Haily Group is attempting to stage a bullish breakout after testing the immediate resistance. The stock printed a bullish candlestick yesterday, and is looking to cross above the MYR0.64 resistance level. We observed that the 21-day SMA line is moving upwards, showing that the short-term trend is bullish. If the stock breaks past the immediate resistance, it will travel towards MYR0.69, followed by MYR0.75. However, a fall below the MYR0.57 support level would open the door for a correction.
 

Source: RHB Securities Research - 27 Jun 2024