Azam Jaya is eyeing to extend the bullish trajectory after staging a bullish breakout on strong volume. The stock printed a long white candlestick and closed above the MYR1.21 resistance, showing bullish setup is in play. After the breakout, expect a follow-through price action to test the next resistance at MYR1.30, followed by the MYR1.40 level. On the other hand, falling below the MYR1.11 support will negate the bullish setup and kickstart the correction phase

Source: RHB Securities Research - 6 Jan 2025