Malaysian Pacific Industries may trend higher after it formed a long white candle and breached above the MYR10.80 threshold. This can be viewed as a continuation of the bulls extending the rebound from 9 July’s “Bullish Engulfing” pattern. A bullish bias may appear above the MYR10.80 level, with an exit set below the MYR9.60 threshold. Towards the upside, the near-term resistance is at MYR12.00. This is followed by the MYR12.90 level.

Source: RHB Securities Research - 20 Jul 2018