DiGi.Com is expected to break above its multi-week sideways consolidation phase as it bounced above the 21-day SMA line yesterday – forming a “higher low” pattern above its immediate support line. If it manages to break above MYR4.32 – the nearest resistance level – the bullish momentum may drive the stock towards the next resistance at MYR4.50, followed by MYR4.72. Meanwhile, breaking below the MYR4.09 support will invalidate this expectation.

Source: RHB Securities Research - 29 Jul 2021