Ho Hup Construction leapt above the resistance level of MYR0.44 with higher trading volume. With the latest price action, we think the consolidation phase may have ended and it is poised to start a new uptrend. Amid strong buying interest, the stock may trend towards the next resistance level of MYR0.475, followed by MYR0.495. A downside breach of the MYR0.42 support level would nullify this expectation, and trigger a share price consolidation.

Source: RHB Securities Research - 24 Feb 2021