Parkson may rise higher after it recently breached above the near-term downtrend line drawn in the chart. Given that it has formed a long white candle above the 21-day SMA line, this means that the bullish sentiment has been enhanced. A bullish bias may emerge above the MYR0.60 level, with an exit set below the MYR0.525 threshold. Towards the upside, the immediate resistance is at MYR0.68. This is followed by the MYR0.735 level.

Source: RHB Securities Research - 26 Jul 2018