Managepay Systems is poised to move away from the sideways consolidation phase after it attempted to breach the immediate resistance yesterday. If the stock manages to move past the MYR0.245 immediate resistance – forming a higher low pattern, it may then travel towards the next barrier of the MYR0.27 recent high, followed by the multi-year high of MYR0.32. This expectation would be nullified if the stock falls below the MYR0.225 support level – forming a lower low.

Source: RHB Securities Research - 18 Jun 2021