Telekom Malaysia continued to extend its rebound after it tested the support of MYR2.21 in the prior session. This can be seen as a possible early sign that the stock’s near 3-week consolidation around the 30-day SMA line has reached an end. Towards the upside, the immediate resistance is eyed at MYR2.47, followed by MYR2.70. A stop-loss can be placed at below MYR2.21.

Source: RHB Securities Research - 29 Nov 2018