Genetec Technology is poised to continue on the upside movement after crossing above the resistance on high volume. The counter managed to close above the MYR1.30 resistance, showing a bullish setup is in play. Meanwhile, we have observed trading volume increasing in tandem with share price, which indicates the bullish momentum is strong. Premised on this momentum, the stock may climb towards the MYR1.45 mark, followed by the MYR1.55 level. If it falls below the MYR1.18 support, this will set off the correction phase.

Source: RHB Securities Research - 27 Dec 2024