Tomypak may rise higher after it breached above the MYR0.60 threshold. Yesterday’s candle can be viewed as a continuation of the bulls extending the rebound from 20 Dec 2018’s “Hammer” pattern. A bullish bias may emerge above the MYR0.60 level, with an exit set below the MYR0.525 threshold. Towards the upside, the immediate resistance is at MYR0.655. This is followed by the MYR0.70 level.

Source: RHB Securities Research - 8 Jan 2019