Only World Group Holdings is expected to continue its bullish momentum, as it broke the immediate resistance of MYR0.445 on strong trading volume yesterday – a bullish “long white candlestick” was formed. Supported by the formation of the “higher low and higher high” bullish pattern, the continuing momentum should boost the stock towards the next resistance at MYR0.49, and subsequently at MYR0.55. Meanwhile, falling below the MYR0.425 support may see the stock move downwards.

Source: RHB Securities Research - 28 Jul 2021