Feytech is poised to continue the bullish movement after climbing above the 21-day SMA line. The stock managed to break past the MYR0.97 resistance to confirm a bullish setup. The price action shows the bullish momentum is growing stronger. We expect the positive price action to follow through during the coming sessions, testing the next resistance pegged at MYR1.05, followed by MYR1.12. In the event the stock falls below the MYR0.92 support, the correction phase will resume.

Source: RHB Securities Research - 15 Aug 2024