BIMB’s buying momentum may have returned after it rose above the 21-day SMA line. Last Friday’s white candle can be viewed as a continuation of the bulls extending the rebound from 22 Mar’s “Hammer” pattern. A bullish bias may emerge above the MYR4.25 level, with an exit set below the MYR4.12 threshold. Towards the upside, the immediate resistance is at MYR4.50. This is followed by the MYR4.70 level.

Source: RHB Securities Research - 1 Apr 2019