Malaysia Building Society is in the process of consolidating sideways after undergoing a retracement recently – forming a “higher low” structure above the 21-day SMA line. A bullish bias may emerge above the MYR0.655 resistance level. If a breakout happens, expect the uptrend to resume and accelerate towards the next resistance of MYR0.70, followed by MYR0.745 – its 52-week high. Conversely, breaching below the MYR0.62 support – its recent breakout level – would cancel this expectation.

Source: RHB Securities Research - 10 Sept 2021