QES broke past the immediate resistance, confirming a bullish setup. We observe that the stock has climbed above the MYR0.53 resistance to chart a “higher high” bullish candlestick. The momentum should propel the stock towards the next resistance of MYR0.55, followed by MYR0.57. Meanwhile, falling below the MYR0.51 support would signify a false breakout and kick start a bearish phase.
Source: RHB Securities Research - 8 Jan 2024
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