Pavilion REIT’s upward trajectory may be extended after it pushed past the resistance. Yesterday, the REIT charted a bullish candlestick and closed above the MYR1.50 breakout point. Breaching the immediate resistance would indicate that the bullish momentum is picking pace again. After the breakout, we expect follow-through price action to test MYR1.56, followed by MYR1.63. If it falls below the MYR1.43 support level, the bullish setup would be negated.

Source: RHB Securities Research - 15 Oct 2024