Mynews Holdings is eyeing for an upward rebound after experiencing a pullback near its 21-day SMA line with a “higher low” bullish pattern recently. If it breaches above the MYR0.885 immediate resistance – forming a “higher high” – the bullish momentum may propel it towards the next hurdle at MYR0.915 before reaching the higher resistance at MYR0.98. Meanwhile, if it drops below the MYR0.855 support level, this expectation will be cancelled.

Source: RHB Securities Research - 23 Jul 2021