Ann Joo Resources may climb higher after forming a long white candle and hitting its highest close in nearly a month. This can be viewed as a continuation of the bulls extending the rebound from 19 Dec 2018’s “Bullish Engulfing” pattern. A bullish bias may emerge above the MYR1.28 level, with an exit set below the MYR1.15 threshold. Towards the upside, the immediate resistance is at MYR1.42. This is followed by the MYR1.59 level.

Source: RHB Securities Research - 7 Jan 2019