Master-Pack Group was consolidating sideways near the resistance level MYR1.96. The stock took a breather after the share price surged on Monday. With the higher highs and high lows pattern sighted, we believe the uptrend is still intact. A breakout from the resistance will see the share price travel towards the next resistance level of MYR2.05, followed by MYR2.20. A downside breach of the MYR1.82 support level would nullify this expectation, and lead to a further share price correction.

Source: RHB Securities Research - 15 Dec 2020