MI Technovation formed a “breakaway gap” to lift off from its 3-month consolidation phase. After forming a “White Marubozu”, coupled with strong trading volume yesterday, the bullish momentum above the MYR3.90 resistance-turnedsupport level is expected to propel the stock towards the next resistance of MYR4.79, followed by the MYR5.52 – the historical high. On the other hand, falling below the MYR3.68 support may see the stock move downwards.

Source: RHB Securities Research - 5 Aug 2021