Dialog is poised to stage a bullish breakout. Last Friday, the stock charted a bullish candlestick and tested the MYR2.40 immediate resistance. Since crossing above the 21-day SMA line, the stock has been charting a series of “higher high” bullish candlesticks, showing that the bullish momentum is in play. A bullish breakout would open the door for the stock to test the next resistance at MYR2.55, followed by MYR2.70. On the other hand, breaching below the MYR2.25 support will kick off the correction phase.

Source: RHB Securities Research - 22 Apr 2024