Dancomech formed a long white candle, indicating that the momentum of buying could be strong. With the 21-day SMA line edging upwards, this suggests a likelihood of increasing demand in the near term. A bullish bias may emerge above the MYR0.535 level, with an exit set below the MYR0.49 threshold. Towards the upside, the immediate resistance is at MYR0.60. This is followed by the MYR0.68 level.

Source: RHB Securities Research - 4 Mar 2019