Comfort Gloves may continue to trend higher after it rose above its immediate resistance yesterday. Premised on rising volume, coupled with the “higher high” pattern yesterday, this implies a positive outlook sentiment. The positive momentum above the resistance-turned-support level of MYR2.88 is expected to lift the stock towards the next resistance level of MYR3.15, followed by MYR3.30. However, this expectation would fade away if it drops below the MYR2.74 support level.

Source: RHB Securities Research - 27 Apr 2021