MNRB Holdings is eyeing to break away from its 6-month consolidation level after it breached above the immediate resistance of MYR1.38 on stronger trading volume yesterday – forming a white bullish candlestick. Coupled with a fresh “higher high” pattern, the bullish momentum is expected to propel the stock towards the next resistance of MYR1.47, followed by MYR1.55. Meanwhile, breaching below the MYR1.35 support would see the direction reverse.

Source: RHB Securities Research - 24 Aug 2021