Mah Sing is poised to extend the upside movement after it broke past the resistance. The counter has climbed above the MYR1.80 resistance to confirm a bullish setup. We observed that the 21- day SMA line is curving upwards, which shows the short-term trend is positive. Volume has been increasing in tandem with the share price, indicating that the underlying momentum is bullish. Riding on this momentum, the stock is eyeing to test the MYR1.95 mark, followed by the MYR2.10 level. Conversely, falling below the MYR1.70 support negates the bullish setup.

Source: RHB Securities Research - 28 Oct 2024