Samchem is attempting to breakout from the immediate resistance marked at MYR1.44. This implies the stock may have completed the consolidation phase that started since January, and is poised to resume the prevailing uptrend. If it crosses the resistance, we expect it to extend higher and test the next resistance level at MYR1.50, followed by MYR1.60. This positive expectation should remain valid, provided it does not breach the MYR1.33 support.

Source: RHB Securities Research - 18 Feb 2021