Excel Force MSC attempted to break out from the sideways consolidation zone, testing the resistance level of MYR0.475. With the trading volume building up in recent sessions, we believe the stock is gaining momentum, and may be ready to break out from the resistance level. If this happens, the bullish momentum may send the stock price towards MYR0.49, followed by MYR0.51. A downside breach of the MYR0.455 support would negate this expectation.

Source: RHB Securities Research - 23 Oct 2020