Avaland is looking to extend its bullish trajectory after staging a bullish breakout on strong volume. The stock printed a long white candlestick and closed above the MYR0.31 resistance level, showing that strong bullish momentum is underway. If it sustains above the breakout point, the counter may continue to climb towards MYR0.335, followed by MYR0.36. However, a fall below the MYR0.285 support level would negate the bullish setup and trigger a resumption ofthe correction phase.

Source: RHB Securities Research - 20 Dec 2024