Infoline Tec’s uptrend may be set for an extension, after the counter breached a key resistance level last week. It crossed above the MYR0.91 resistance on high trading volume. The latest bullish breakout signifies that a consolidation phase has completed, so traders can expect a follow-through price action to test the next resistance of MYR1, followed by MYR1.10. On the flip side, falling below the MYR0.82 support would negate the bullish setup.

Source: RHB Securities Research - 24 Jun 2024