Poh Kong saw trading volume increase yesterday as the stock attempted to breakout from the sideways zone. It has been consolidating sideways since September, with the immediate resistance marked at MYR0.86. A successful breakout from the resistance will see the stock moving higher to test the next hurdle at MYR0.89, followed by MYR0.94. A downside breach of the MYR0.81 support would negate this expectation, and shall see a stock price correction.

Source: RHB Securities Research - 28 Dec 2020