Malaysian Genomics Resource Centre is poised to test the multi month-high after forming a “higher low” bullish structure from the recent pullback. This, together with the 21-day SMA line turning upwards lately, indicates that the upward movement is resuming. Bullish momentum may emerge, if it moves above the MYR1.29 resistance. The momentum may drive it towards the next resistance level of MYR1.40, followed by MYR1.50. Meanwhile, if the support level of MYR1.17 is breached, this expectation would be void.

Source: RHB Securities Research - 20 Apr 2021