AWC is poised to extend the upside movement after staging a bullish breakout. On Tuesday, the stock climbed above the MYR0.96 resistance on strong volume – confirming a bullish setup. This volume has increased in tandem with the share price, which indicates a strong bullish momentum is underway. The momentum should lift the counter towards the next resistance at MYR1.05, followed by the MYR1.12 mark. On the other hand, falling below the MYR0.86 support opens the door for downward movements.

Source: RHB Securities Research - 2 May 2024