Comintel Corporation is set to climb higher after experiencing a bullish breakout above the MYR1.50 level yesterday, on the back of strong trading volume. Currently positioned above the ascending 21-day SMA line, the stock is likely to climb towards MYR1.60, followed by MYR1.70. However, a fall below the MYR1.44 support level would kick off a downtrend.
Source: RHB Securities Research - 28 Feb 2024