Mobilia Holdings is set to extend its uptrend after it breached the immediate resistance on strong trading volume – solidifying the “higher low” bullish structure. Coupled with a “White Marubozu” candlestick, the bullish bias is expected to remain above the immediate resistance-turned-support of MYR0.535. This will then boost the stock higher towards the next resistance pegged at MYR0.60, followed by MYR0.65. Meanwhile, breaching below the MYR0.495 support will end the momentum.

Source: RHB Securities Research - 11 Aug 2021