Eversendai Corp is resuming the upside movement after climbing above the 21-day SMA line. The counter managed to stage a breakout and closed above the MYR0.57 resistance, signalling the bullish momentum is reaccelerating. Premised on this renewed momentum, we expect a follow-through price action to test next resistance at MYR0.62, followed by the MYR0.66 level. In the event the stock breaches below the MYR0.53 support, this will invalidate the bullish setup and opens the door for a correction phase

Source: RHB Securities Research - 24 Dec 2024