Malaysia Marine and Heavy Engineering formed a long white candle, indicating that momentum of buying could be strong. Yesterday’s candle sent the stock to its 2-week high, thereby enhancing the positive sentiment. A bullish bias may emerge above the MYR0.53 level, with an exit set below the MYR0.495 threshold. Towards the upside, the immediate resistance is at MYR0.60. This is followed by the MYR0.645 level.

Source: RHB Securities Research - 27 Dec 2018