Malaysia Building Society may be poised for a technical rebound after retracing on lower volume recently. The shrinking volume indicates that selling pressure is subsiding. Meanwhile, a bullish bias should emerge if it breaches above the MYR0.645 resistance level – forming a “higher low” pattern above the 21- day SMA line. The next resistance is at MYR0.68, followed by MYR0.71. If it falls below the MYR0.605 support, the stock may move downwards.

Source: RHB Securities Research - 8 Jun 2021