Nationgate is eyeing to stage a bullish breakout, testing the immediate resistance on high volume. The counter has been consolidating sideways below the MYR1.96 resistance. In the event it crosses above the immediate resistance, it will attract fresh bullish momentum. If breakout happens, we expect the bullish momentum to lift the stock towards MYR2.13, followed by the MYR2.30 mark. Should it fall below the MYR1.79 support, this opens the door for downward movements.

Source: RHB Securities Research - 24 Oct 2024