Dayang Enterprise Holdings is set to retest the recent high after it rose above the immediate resistance on strong volume. After crossing above the 21-day SMA line, the bullish bias is expected to remain above the MYR1.47 support-turned-resistance level. Underpinning strong momentum, the stock may travel towards the next resistance of MYR1.60, then MYR1.65. Meanwhile, if the stock reverses below the support level of MYR1.42, this expectation will be void.

Source: RHB Securities Research - 11 May 2021