OCK Group may break away from the consolidation phase after crossing above the immediate resistance on rising volume yesterday. Premised on the stock bouncing above its 21-day SMA line from below, a positive bias may emerge if it manages to stay above the MYR0.515 resistance-turned-support level. Towards the upside, the immediate resistance is eyed at the MYR0.555 level, then MYR0.575. Meanwhile, if the stock breaches below the next support level of MYR0.50, this expectation would be cancelled.

Source: RHB Securities Research - 4 May 2021