Boustead Holdings has been consolidating slightly above the 21-day SMA line over the past four sessions, after its prior upward move. It attempted to cross above the MYR0.64 resistance in the latest session on healthy volume. An upside breach of the resistance point could see the stock advancing towards the MYR0.66 and MYR0.685 resistance points. This forecast should stay valid provided the MYR0.63 support level continues to hold.

Source: RHB Securities Research - 25 Nov 2020