Malakoff is eyeing to extend its upside movement after staging a bullish breakout with strong volume. The stock has printed a long white candlestick and surpassed the MYR0.88 resistance, showing that strong bullish momentum is underway. After the breakout, expect a follow-through price action to test the next resistance at MYR0.95, followed by MYR1.03. On the flipside, breaching below the MYR0.825 support would dent market sentiment and kickstart the downward movement.

Source: RHB Securities Research - 9 Jan 2025