Pantech is eyeing a bullish breakout after testing the immediate resistance with high volume. The stock has been consolidating sideways below the MYR1 resistance. We note that trading volume has been increasing, showing that bullish momentum is gaining traction. In the event of a breakout, we expect the stock to travel towards the resistance level at MYR1.05, followed by MYR1.10. On the other hand, a fall below the MYR0.94 support level would trigger downward movement.

Source: RHB Securities Research - 8 Apr 2024