Matrix Concepts Holdings is showing signs of extending its uptrend after breaking above the previous resistance on strong volume. As the 21-day SMA line is curving higher, this shows that the uptrend is intact. This positive bias is likely to be extended if it manages to stay above the immediate support of MYR1.97. The next resistance levels are pegged at MYR2.10, followed by MYR2.20. If the support level of MYR1.88 is broken, this trading set-up would be invalidated.

Source: RHB Securities Research - 23 Mar 2021