Berjaya Sports Toto breached the resistance, breaking away from the sideway resistance zone since mid-November. A bullish bias emerged above the resistance level of MYR2.20. With the surging trading volume, we believe the bullish momentum is gaining strength and it may pushing the stock towards the next resistance level at MYR2.30, followed by MYR2.50. Meanwhile, a downward breach of the MYR2.13 support will negate this expectation.

Source: RHB Securities Research - 21 Dec 2020