MESB is eyeing its 52-week high after it broke away from the immediate resistance of MYR0.56, while printing a White Marubozu bullish candlestick – supported by strong volume. If it stays above that level, the bulls should drive the stock towards the 52-week high threshold of MYR0.63, before possibly hitting the MYR0.70 level. That said, this expectation will be cancelled if it falls below the support of MYR0.52 – forming a “lower low” formation.

Source: RHB Securities Research - 13 Oct 2021