Innoprise Plantations may test its recent high as it moved past the immediate resistance recently – printing bullish candlesticks for four consecutive days. With the latest “White Marubozu”, the bullish bias expected to remain above the MYR1.08 breakout level. This may drive the stock towards the next resistance of MYR1.20, before reaching its recent high of MYR1.29. Meanwhile, if it falls below the MYR1.03 support, this expectation will be nullified.

Source: RHB Securities Research - 13 Aug 2021