Artroniq’s broke out from the immediate resistance level at MYR0.685 with higher trading volume. Since crossing the 21- day SMA line, the stock has been climbing higher on the back of stronger buying interest. We think the positive momentum will drive it towards the next resistance level pegged at MYR0.745, followed by MYR0.77. A downside breach of the MYR0.66 support level would nullify this expectation and see further share price correction.

Source: RHB Securities Research - 4 Feb 2021