Naim Holdings is set for an uptrend reversal after it reclaimed above the MYR0.81 critical resistance level yesterday – amid trading above the rising 21-day SMA line. If the breakout is sustained, the stock will likely advance towards the MYR0.885 resistance, followed by the next resistance at MYR0.975, or the 52-week high. Conversely, a drop below the MYR0.76 support would invalidate the bullish setup, falling below the SMA line.

Source: RHB Securities Research - 28 Dec 2023