Syarikat Takaful Malaysia Keluarga is poised to climb higher after breaking past the resistance level. The counter staged a breakout from the consolidation zone as it closed above the MYR4 resistance. We observed that the 21-day SMA line is moving upwards, showing that the short-term trend is bullish. After the breakout, we expect follow-through price action to test the MYR4.15 level, followed by MYR4.30. A fall below the MYR3.85 support level would invalidate the bullish setup.

Source: RHB Securities Research - 20 Dec 2024