Malayan Flour Mills may rebound further after it tested the MYR0.45 support recently. Given that it has formed a white candle for the second consecutive day, the positive sentiment has been enhanced. A bullish bias may appear above the MYR0.58 level, with an exit set below the MYR0.45 threshold. Towards the upside, the near-term resistance is at MYR0.70. This is followed by the MYR0.80 level.

Source: RHB Securities Research - 17 Jan 2019