Dagang Nexchange is set for a rebound as it breached the immediate resistance on improved volume last Friday. As such, a bullish bias emerged above the MYR0.745 resistance-turnedsupport level. If the stock remains above that level, the positive momentum may drive it towards the next resistance of MYR0.80, followed by the MYR0.855. Meanwhile, if it falls below the MYR0.71 support level (forming a “lower low” bearish pattern), this expectation would be cancelled.

Source: RHB Securities Research - 19 Jul 2021