Superlon’s upside move may persist after it continued holding above the 21-day SMA line. As the 21-day SMA line crossed above the 55-day SMA line lately, this is an indication of a positive sign. A bullish bias may emerge above the MYR1.23 level, with an exit set below the MYR1.15 threshold. Towards the upside, the immediate resistance is at MYR1.40. This is followed by the MYR1.50 level.

Source: RHB Securities Research - 7 Dec 2018