MNRB Holdings is staging a technical breakout above its sideways consolidation phase, after breaching the immediate resistance on higher volume yesterday. Consequently, a bullish bias appeared above the MYR1.29 resistance-turned-support level. If the stock stays above that level, the stock may climb towards the next resistance at MYR1.40, followed by MYR1.45. Meanwhile, breaking below the MYR1.26 support will invalidate the expectation.

Source: RHB Securities Research - 28 Jul 2021