Hiap Teck Venture emerged above the consolidation phase as it bounced-off the 21-day SMA line and pushed past the immediate resistance of MYR0.545 on surging trading volume. The long white candlestick formed yesterday points to a followthrough price action testing the next resistance of MYR0.615, followed by MYR0.705 – which is its all-time high. Meanwhile, falling below the MYR0.515 support would see the direction shift downwards.

Source: RHB Securities Research - 27 Aug 2021