Mah Sing Group is poised to extend the rebound after it breaches above the 21-day SMA line. Premised on strong volume, it formed a bullish candle that pushed past the MYR0.93 immediate resistance yesterday, signalling that the bullish bias has emerged. The bullish momentum may lift the stock towards the MYR1.00 psychological level, after which it may travel towards the next resistance of MYR1.04. However, if the stock reverses below the MYR0.90 support level, this trading set-up would be cancelled.

Source: RHB Securities Research - 20 May 2021