Johor Plantations is eyeing to stretch the bullish trajectory while testing the immediate resistance. The counter has been seen consolidating sideways below the MYR1.08 resistance. We have also observed the 21-day SMA line moving upwards, which shows the short-term trend is bullish. In the event it climbs above the immediate resistance, it will resume the upside movement. In this case, the stock should move towards MYR1.12, followed by the MYR1.16 level. Conversely, falling below the MYR1.02 support kick-starts the correction phase.

Source: RHB Securities Research - 25 Oct 2024