Prolexus jumped higher yesterday on surging trading volume. The stock is poised to test the immediate resistance level of MYR1.04. A successful break above the resistance would see the stock crossing above the 21-day SMA line – it could even move towards the next resistance levels pegged at MYR1.10, followed by MYR1.16. A downside breach of the MYR0.92 support level would nullify this expectation, and lead to a share price correction.

Source: RHB Securities Research - 23 Feb 2021