Malaysian Pacific Industries is resuming its uptrend as it broke away from its consolidation phase of MYR46.00 on strong trading volume – forming a long white candlestick. Riding on high trading interest, the positive momentum may propel the stock towards the psychological level of MYR50.00, followed by MYR55.00. Meanwhile, falling below the MYR44.00 support – beneath the 21-day SMA line – would see the direction shift downwards.

Source: RHB Securities Research - 7 Sept 2021