Berjaya Food is set to resume its upward trajectory towards its multi-year high after it breached the immediate resistance on stronger volume. If it manages to sustain above the MYR2.00 resistance-turned-support level, the bullish momentum may propel the stock towards the next hurdle at MYR2.09 before reaching the higher resistance at MYR2.23 the multi-month high. Meanwhile, if it falls below the MYR1.91 support level, this momentum will fade.

Source: RHB Securities Research - 27 Jul 2021