Kossan Rubber Industries is poised for an upward surge following a technical breakout above the MYR1.77 resistance yesterday, as evidenced by a "Bullish Marubozu" candlestick. Supported by a significant increase in trading volume, the bullish momentum is expected to propel the stock towards the MYR2 mark, with the next resistance at MYR2.22. Conversely, a decline below the MYR1.60 support would indicate a potential downtrend.

Source: RHB Securities Research - 15 Dec 2023