Dayang is eyeing to extend the counter-trend rebound – charting a bullish candlestick with high volume. Last Friday, the stock underwent strong buying pressure and closed with a long bullish candlestick. If momentum follows through and the stock breaks past the MYR1.53 resistance, bullish bias will emerge. In this case, the momentum would lift the stock towards MYR1.60, followed by MYR1.70. On the other hand, falling below the MYR1.43 support will resume the bearish phase.

Source: RHB Securities Research - 11 Dec 2023