Muda Holdings is expected to climb higher after it broke past the sideways consolidation level of MYR2.83 on surging trading volume – forming a “higher high” bullish pattern. If it manages to stay above that level, the positive momentum may accelerate towards the next resistance of MYR3.05 (a recent high), followed by MYR3.60. In the event it falls below the MYR2.74 support, this expectation would be cancelled.

Source: RHB Securities Research - 2 Sept 2021