Gas Malaysia is attempting to extend the bullish movement after breaking past the resistance on strong volume. The counter has climbed above the MYR3.65 resistance with long bullish candlestick, showing strong bullish momentum is in play. An extension of the upside movement should see the counter testing the next resistance at MYR3.80, followed by MYR3.95. Meanwhile, falling below the MYR3.50 support will kickstart the correction phase.

Source: RHB Securities Research - 29 Aug 2024