Malayan Flour Mills is set to move towards its all-time high again, having meandering around the immediate resistance on strong volume yesterday. Coupled with a “higher low” pattern and the 21-day SMA line curving upwards, the bullish bias has established above the MYR0.955 resistance-turned-support level. As such, the stock may continue to head north, to test the resistance of MYR1.01, followed by MYR1.06. However, this expectation would be reversed if it falls below the MYR0.92 support level.

Source: RHB Securities Research - 22 Apr 2021