S P Setia’s buying momentum may have returned after it rose above the 21-day SMA line. This upward momentum is likely to continue, given that it has posted a second consecutive white candle. A bullish bias may emerge above the MYR2.20 level, with an exit set below the MYR2.03 level. Towards the upside, the immediate resistance is at MYR2.40. This is followed by the MYR2.62 level.

Source: RHB Securities Research - 7 Dec 2018