Mitrajaya formed a long white candle, indicating that momentum of buying could be strong. In view that the 21-day SMA line is likely to begin turning upwards, this also implies a positive outlook. A bullish bias may appear above the MYR0.32 level, with an exit set below the MYR0.285 threshold. Towards the upside, the near-term resistance is at MYR0.385. This is followed by the MYR0.445 level.

Source: RHB Securities Research - 16 Jan 2019