Bonia formed a long white candle, indicating that the momentum of buying could be strong. This can be viewed as a continuation of the bulls extending the rebound from 30 Oct’s “Hammer” pattern. A bullish bias may appear above the MYR0.26 level, with an exit set below the MYR0.225 threshold. Towards the upside, the near-term resistance is at MYR0.30. This is followed by the MYR0.335 level.

Source: RHB Securities Research - 7 Nov 2018