MISC may trend higher after it formed another white candle and rose above the MYR6.50 threshold. Given that the stock has formed a “Hammer” pattern on 6 Dec, this has enhanced the positive sentiment. A bullish bias may emerge above the MYR6.50 level, with an exit set below the MYR5.93 threshold. Towards the upside, the immediate resistance is at MYR7.00. This is followed by the MYR7.54 level.

Source: RHB Securities Research - 2 Jan 2019