Solarvest Holdings is set to trend higher amid a breakout above the MYR1.40 resistance following a surge in trading volume yesterday – the stock charted a fresh 52-week high. Riding on the momentum, it should climb towards the MYR1.57 resistance, followed by the MYR1.70 level. Towards the downside, a fall below the MYR1.34 support would invalidate the bullish setup, as the stock would be trading below the 21-day SMA line.

Source: RHB Securities Research - 31 Jan 2024