Widad Group is in the process of moving away from a sideways consolidation phase, as it attempted to breach the MYR0.40 immediate resistance on high volume recently. If it manages to push upwards past that level – forming a “higher high” bullish structure – the bullish momentum may lift the stock towards the MYR0.445 resistance, followed by MYR0.50. Meanwhile, the stock may move downwards if it falls beneath the MYR0.38 support – printing a “lower low” bearish pattern.

Source: RHB Securities Research - 7 Oct 2021