Telekom Malaysia is consolidating sideways near the resistance level MYR4.30, and may see a breakout soon. Notice that trading volume has increased gradually since 5 Oct, indicating a growing bullish momentum. If it breakouts above the resistance level, we think it will move higher to test the next resistance level of MYR4.50, followed by MYR4.70. A downside breach of the MYR4.10 support level would nullify this expectation

Source: RHB Securities Research - 2 Nov 2020