Techbond is looking to extend its technical rebound after testing the immediate resistance level. The counter bounced off the immediate support to touch the MYR0.45 immediate resistance level. In the event that a bullish breakout takes place, the momentum should lift the counter towards the next resistance level at MYR0.475, followed by the one at MYR0.50. However, if it falls below the MYR0.42 support level, the counter will resume the correction phase.

Source: RHB Securities Research - 7 Aug 2024