Ramssol is poised to extend its upward movement after undergoing a bullish breakout. The stock has climbed above the MYR0.75 resistance, thereby confirming a bullish setup. Meanwhile, the 21-day SMA line is rounding upwards, which indicates that the short-term trend is a bullish one. Riding on the renewed momentum, the stock may hit the next resistance of MYR0.80, followed by the MYR0.84. Meanwhile, falling below the MYR0.705 support will negate the bullish setup.

Source: RHB Securities Research - 29 Jul 2024