Swift Haulage is poised for a technical breakout after rebounding off the 21-day SMA line recently and maintaining above it yesterday – firming up its “higher low” bullish pattern. If a breakout happens above the recent high of MYR0.575, the counter would trend higher towards the 52-week high of MYR0.63, followed by the MYR0.70 mark. On the flip side, falling below the MYR0.54 support should negate the bullish setup, as it would then be trading below the SMA line.

Source: RHB Securities Research - 30 May 2024