Agmo is eyeing to extend the upside movement after staging a bullish breakout. The counter broke past the MYR0.52 resistance on the back of strong volume. The latest bullish candlestick, coupled with high volume, show that the bullish momentum is gaining speed now. The momentum should lift the counter towards the next resistance at MYR0.55, followed by MYR0.58. On the flipside, falling below the MYR0.485 support will kick off the correction phase.

Source: RHB Securities Research - 29 Apr 2024