Mulpha International is eyeing its multi-year high after it breached the immediate resistance yesterday on strong volume. Coupled with a “higher low and higher high” bullish pattern, this bullish bias may sustain if it manages to stay above the MYR1.96 support level. It may then move higher towards MYR2.10, followed by MYR2.20 – its highest level since Oct 2019. If the stock falls below the MYR1.84 support, this expectation would be voided.

Source: RHB Securities Research - 7 Jul 2021