Deleum’s upside move may continue after it climbed above the 21-day SMA line recently. Yesterday’s white candle can be viewed as the bulls extending the rebound from 11 Oct’s “Hammer” pattern. A bullish bias may emerge above the MYR1.15 level, with an exit set below the MYR1.06 threshold. Towards the upside, the immediate resistance is at MYR1.30. This is followed by the MYR1.40 level.

Source: RHB Securities Research - 23 Oct 2018