Malton may rise higher after posting a long white candle and hitting its highest close in more than three months. This can be viewed as a continuation of the bulls extending the upward momentum from 28 Dec 2018’s upside gap. A bullish bias may emerge above the MYR0.50 level, with an exit set below the MYR0.43 threshold. Towards the upside, the immediate resistance is at MYR0.58. This is followed by the MYR0.65 level.

Source: RHB Securities Research - 16 Jan 2019