Hiap Teck Venture is set to trend higher after accelerating its bullish momentum above the recent breakout level of MYR0.40 with strong volume. Riding above the 21-day SMA line, the stock may climb higher towards the MYR0.45 resistance, followed by the MYR0.485 next resistance, ie the 52-week high. However, a fall below the MYR0.375 support increases the risk of a reversal towards a downtrend, particularly if it falls below the SMA line.

Source: RHB Securities Research - 5 Apr 2024