Berjaya Food is expected to continue its upwards reversal as it jumped with a positive gap and moved past the consolidation phase on surging trading volume. The long white body candlestick that crossed above the MYR2.02 level signals that the positive momentum will drive the stock towards the recent high of MYR2.24, before moving further to test the MYR2.50 resistance. Otherwise, falling below the MYR1.95 support or below the 21-day SMA line, may see it shift to a lower level.

Source: RHB Securities Research - 20 Aug 2021