Siab is looking to extend its bullish trajectory after breaking past the key resistance with strong volume. The counter closed above the MYR0.15 resistance level to form a fresh “higher high” bullish candlestick. Trading volume has been surging in tandem with the share price, indicating that bullish momentum is getting stronger. We expect the positive price action to follow through towards MYR0.17, followed by MYR0.19. A fall below the MYR0.13 support level would resume the correction phase.

Source: RHB Securities Research - 9 Jul 2024