HSS Engineers is set to break away from its consolidation phase after its recent attempt to breach its immediate resistance. With the stock trading above the 21-day SMA line, bullish bias is expected to emerge if it manages to break above the MYR0.65 immediate resistance level. Premised on strong trading volume, the stock may travel towards the next resistance of MYR0.68, and then MYR0.70. However, if the stock reverses below the MYR0.615 support level, this expectation will be void.

Source: RHB Securities Research - 12 May 2021