Magni-Tech Industries is eyeing to extend the upside movement after breaking past the immediate resistance on strong volume. The stock has climbed above the MYR2.30 resistance to form a fresh “higher high” bullish candlestick. The trading volume has been increasing in tandem with the share price, showing strong bullish momentum is underway. Riding on the momentum, the stock should travel towards MYR2.45, followed by MYR2.60. On the other hand, falling below the MYR2.19 support will negate the bullish setup.
 

Source: RHB Securities Research - 20 Jun 2024