Central Global is expected to resume its uptrend trajectory towards a multi-year high after it broke above its sideways consolidation recently. Coupled with a “higher high” pattern above the 21-day SMA line, the bullish momentum should continue above the MYR2.03 support level to propel it towards the next resistance at MYR2.40, followed by the MYR2.54 multi-year high. If it breaches below the MYR1.82 support level, this anticipation would be cancelled.

Source: RHB Securities Research - 11 Jun 2021