Gopeng is in the process of moving away from the sideways consolidation phase – testing the immediate resistance with improved volume. Coupled with a “higher low” bullish pattern, the bullish bias is expected to emerge if it breaks above the MYR0.955 immediate resistance level. If this happens, the bullish momentum may lift it towards the next hurdle of MYR1.00, followed by MYR1.08. Meanwhile, falling below the MYR0.895 support level would nullify this expectation.

Source: RHB Securities Research - 23 Jun 2021