Advancecon resumed its uptrend after it bounced off the recent retracement level by breaking above the immediate resistance with a “White Marubozu” candle – indicating a strong bullish momentum. On surging volume, the stock broke away from the immediate resistance of MYR0.43, signifying the potential to test the next resistance of MYR0.475, followed by MYR0.50. However, if the support level of MYR0.415 is broken, this expectation would be negated.

Source: RHB Securities Research - 21 Apr 2021