Luxchem may rise higher after it formed a long white candle and breached above the MYR0.55 threshold. This close has sent the stock to its highest close in more than five months, thereby enhancing the positive sentiment. A bullish bias may emerge above the MYR0.55 level, with an exit set below the MYR0.505 threshold. Towards the upside, the immediate resistance is at MYR0.60. This is followed by the MYR0.63 level.

Source: RHB Securities Research - 6 May 2019