Southern Cable Group is positioned for a technical breakout, having rebounded from the 21-day SMA line and approaching the immediate resistance of MYR0.40 on improved trading volume. Should a breakout occur above that level, the current sideways consolidation could turn to an uptrend, potentially advancing towards the MYR0.42 mark before targeting the next resistance at MYR0.45. Conversely, a drop below the MYR0.36 support would invalidate the bullish setup.

Source: RHB Securities Research - 15 Dec 2023