Malaysian Genomics Resources Centre is in the process of printing its new high level after it bounced off the 21-day SMA line recently. Coupled with strong volume, the bullish bias may emerge if it manages to breach the MYR1.56 resistance level, signifying the odds of traveling into unchartered territory towards MYR1.60, followed by MYR1.70. If the stock falls below the MYR1.50 support, this expectation would be voided.

Source: RHB Securities Research - 6 Jul 2021