MY EG Services is attempting to resume the upside movement, testing the immediate resistance. The counter is seen consolidating sideways below the MYR1.02 resistance. We also observed the stock closing above the 21-day SMA line, showing the bullish momentum is gaining traction. If it breaks past the immediate resistance, the counter may travel towards the next resistance at MYR1.06, followed by the MYR1.12 level. A breach below the MYR0.97 support resumes the correction.

Source: RHB Securities Research - 25 Jul 2024