Kelington Group is poised to print a new-high level as it moved above the immediate resistance level of MYR1.25 on strong trading volume yesterday – forming a long white candle amid the “higher low” bullish structure. The strong upward momentum is expected to lift the stock towards the next resistance pegged at MYR1.34, followed by MYR1.40, the new-high. If the stock falls below the MYR1.17 support, this expectation will be voided.

Source: RHB Securities Research - 29 Jul 2021