Magnum may climb higher after forming a white candle and hitting its new 52-week high. With the 21-day SMA line edging upwards, this also implies a positive outlook sentiment. A bullish bias may emerge above the MYR2.30 level, with an exit set below the MYR2.20 threshold. Towards the upside, the immediate resistance is at MYR2.50. This is followed by the MYR2.70 level.

Source: RHB Securities Research - 27 Feb 2019