Pansar is poised to extend the bullish trajectory after climbing above the resistance on strong volume. The stock printed a long white candlestick yesterday and closed above the MYR0.62 resistance, confirming a strong bullish momentum is in play. We have observed the 21-day SMA line pointing upwards, signalling that the short-term trend is bullish. After the breakout, we expect a follow-through price action to test MYR0.665, followed by the MYR0.72 level. On the downside, if it falls below the MYR0.59 support, this resumes the correction phase

Source: RHB Securities Research - 24 Oct 2024