Resintech is poised to extend the upside movement after staging a bullish breakout. The stock has climbed above the MYR0.595 resistance on strong volume. The latest breakout, coupled with the rising volume, shows bullish momentum is gaining speed now. Riding on the momentum, the stock may set its sights to test MYR0.66, followed by MYR0.70. Conversely, falling below the MYR0.56 support would negate the bullish setup.

Source: RHB Securities Research - 12 Jul 2024