Industronics is set to move higher towards recent high, as it bounced off the recent low and breached the immediate resistance on strong volume yesterday. In the event it sustains above the MYR0.235 immediate support, the momentum may propel the stock towards the next resistance of MYR0.28, followed by the MYR0.30 recent high. Conversely, if the stock falls below the MYR0.21 support level, the trend may switch to downtrend.

Source: RHB Securities Research - 6 Jul 2021