Teladan Setia Group is poised to move higher as it attempted to breach the immediate resistance on surging trading volume, forming a “higher low” pattern near the 21-day SMA line. If it breaches the immediate resistance of MYR0.645 – printing a “higher high” formation – a bullish bias may emerge. The positive momentum may lead the stock towards the next resistance of MYR0.675, followed by MYR0.70. In the event it falls below the MYR0.625 support, this expectation would be void.

Source: RHB Securities Research - 1 Sept 2021