Mi Equipment may rise higher after it formed a second consecutive white candle. This can be viewed as a continuation of the bulls extending the rebound from 26 Dec’s “Hammer” pattern. A bullish bias may emerge above the MYR2.17 level, with an exit set below the MYR2.00 threshold. Towards the upside, the immediate resistance is at MYR2.42. This is followed by the MYR2.58 level.

Source: RHB Securities Research - 2 Jan 2019