CBH Engineering is poised to continue the upside movement after staging a bullish breakout on strong volume. The stock charted a long white candlestick and closed above the MYR0.345 resistance yesterday, showing the bullish momentum is now in play. Premised on this momentum, the counter should travel towards the next resistance at MYR0.38, followed by the MYR0.41 level. Conversely, breaching below the MYR0.315 support will dent market sentiment and open the door for corrections.

Source: RHB Securities Research - 22 Jan 2025