British American Tobacco (Malaysia) is consolidating sideways. Last Friday, it attempted to break out from the resistance. Trading volume also picked up, indicating positive buying interest. If the stock breaks out from the immediate resistance marked at MYR14.60, the uptrend should resume and send the share price higher to test the next hurdle of MYR15.30, followed by MYR16.00. A downside breach of the MYR13.70 support would negate this expectation, and trigger a stock price correction.

Source: RHB Securities Research - 28 Dec 2020