Dnonce Technology is set to extend its upward movement, as it surpassed the immediate resistance of MYR0.54 on strong trading volume yesterday – forming a bullish “long white candlestick”. Coupled with a “higher low and higher high” formation, the follow-through momentum should lift the stock towards the next resistance at MYR0.585, and then MYR0.63. Meanwhile, falling below the MYR0.52 support may see the stock move downwards.

Source: RHB Securities Research - 27 Jul 2021