SBH Marine is attempting to stage a bullish breakout, testing the immediate resistance. The counter has been consolidating sideways beneath the MYR0.275 resistance. We observe the 21- day SMA line is pointing upwards – suggesting the short-term trend is bullish. In the event the counter climbs above the immediate resistance, it may extend the upside movement towards MYR0.29, followed by MYR0.31. Meanwhile, falling below the MYR0.25 support will resume the correction phase.
 

Source: RHB Securities Research - 20 Jun 2024