Dayang Enterprise rebounded on high volume, and attempted to break out from the resistance. The stock has been trending higher on the back of increasing trading volume. It underwent a minor pullback lately. A breakout from the immediate resistance of MYR1.28 will see the momentum pushing the stock towards the next resistance level of MYR1.33, followed by MYR1.38. Meanwhile, a downward breach of the MYR1.15 support would negate this expectation.

Source: RHB Securities Research - 15 Dec 2020