Malakoff is undergoing consolidation, and is attempting to stage a bullish breakout. We observe that the stock has been moving horizontally below the MYR0.675 resistance. However, trading volume has increased recently, with the bullish momentum picking up pace. If bullish breakout happens, the stock may climb towards MYR0.70, followed by MYR0.73. Conversely, breaching below the MYR0.63 support would kick off the downward movement.
Source: RHB Securities Research - 5 Feb 2024
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