Techbond Group may trend higher after it formed a long white candle and breached above the MYR0.845 mark. In view of the positive slope of the 21-day SMA line, this implies an upbeat outlook. A positive bias may emerge above the MYR0.845 level, with an exit set below the MYR0.825 threshold. Towards the upside, the immediate resistance is at the MYR0.90 mark. This is followed by the MYR0.95 level. Tomypak’s buying momentum may have returned after it recently rose above the 21-day SMA line. This uptrend is likely to continue, given that it has posted a second consecutive white candle. A positive bias may emerge above the MYR0.53 level, with an exit set below the MYR0.495 threshold. Towards the upside, the immediate resistance is at the MYR0.60 mark. This is followed by the MYR0.65 level

Source: RHB Securities Research - 27 Nov 2019