Media Chinese International, which pulled back from the recent high, is in the process of forming a double bottom. The low volume during the pullback for eight consecutive days indicates that selling pressure is subsiding. The bullish bias would be endured if it manages to stay above the resistance-turn-support level of MYR0.18. The next resistance levels are eyed at MYR0.21, and its recent high of MYR0.215. This expectation would be invalidated if the MYR0.18 support fails.

Source: RHB Securities Research - 26 Mar 2021