MI Technovation is set for a strong rebound after undergoing a breakout above the MYR1.83 level yesterday on improving trading volume above the 21-day SMA line. If the breakout sustains, the stock will likely advance towards the MYR1.94 recent high, followed by the next resistance at MYR2.06 – testing the high of 2023. Conversely, a drop below the MYR1.75 support would invalidate the bullish setup.
Source: RHB Securities Research - 21 Dec 2023
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