Mynews Holdings is extending its uptrend trajectory as it surpassed the immediate resistance on high trading volume – forming a fresh “higher high” with a long white candlestick. If it remains above the resistance-turned-support level of MYR1.03, the bullish momentum will drive the stock towards the next resistance of MYR1.12 – its multi-month high, followed by a higher hurdle of MYR1.20. However, falling below the MYR0.995 support and forming a “lower low” pattern may see it fall to lower levels.

Source: RHB Securities Research - 27 Aug 2021