Pentamaster formed a long white candle, indicating that the 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 emerge above the MYR3.00 level, with an exit set below the MYR2.74 threshold. Towards the upside, the immediate resistance is at MYR3.40. This is followed by the MYR3.63 level.

Source: RHB Securities Research - 31 Jan 2019