IHH Healthcare is poised to resume its upward movement after it bounced off from the recent retracement on increased trading volume. If a breakout occurs above the MYR6.50 resistance, a bullish bias may emerged while forming a “higher high” pattern. Then, the bulls may test its uncharted territory at the MYR7.00 level, followed by MYR7.50. However, falling below the MYR6.28 support may signal a sharp retracement towards the previous breakout level.

Source: RHB Securities Research - 9 Sept 2021