Ranhill’s upside move may persist after it continued holding above the 21-day SMA line. In view that the 21-day SMA line is likely to begin turning upwards, this also implies a positive outlook sentiment. A bullish bias may appear above the MYR1.33 level, with an exit set below the MYR1.16 threshold. Towards the upside, the near-term resistance is at MYR1.52. This is followed by the MYR1.60 level.

Source: RHB Securities Research - 27 Feb 2019