Malayan Flour Mills is set to resume its uptrend reversal, as it bounced off from the recent pullback on surging trading volume – it broke away from the immediate resistance of MYR0.825, with a bullish candlestick of “White Marubozu”. Coupled with a “higher low” bullish structure, the bullish momentum above that level may propel the stock towards the next resistance of MYR0.91, followed by the MYR1.00 psychological level. However, this expectation will be cancelled if it falls below the MYR0.79 support level.

Source: RHB Securities Research - 14 Sept 2021