Dancomech formed a long white candle, indicating that momentum of buying could be strong. Yesterday’s candle sent the stock to its 1-month high, thereby enhancing the bullish sentiment. A bullish bias may appear above the MYR0.49 level, with an exit set below the MYR0.435 threshold. Towards the upside, the near-term resistance is at MYR0.55. This is followed by the MYR0.585 level.

Source: RHB Securities Research - 23 Nov 2018