Only World Group Holdings has moved past its consolidation phase after it bounced off its support on high trading volume – forming a bullish candlestick of “White Marubozu”. If it manages to sustain above the MYR0.475 immediate support level, the positive momentum will boost the stock towards the multi-month high of MYR0.555, before moving further to test the MYR0.59 resistance level. However, falling below the 21- day SMA line or MYR0.44 support may see it move lower.

Source: RHB Securities Research - 17 Aug 2021