Boustead Holdings is in the process of breaching above its consolidation phase as it attempted to move past the MYR0.605 immediate resistance on higher trading volume – riding on its “higher low” bullish structure. If it manages to breach that level, the bullish momentum may propel the stock towards its August’s high of MYR0.63, and then the MYR0.69 resistance level. That said, this expectation will be nullified if it falls below the support level of MYR0.58.

Source: RHB Securities Research - 22 Oct 2021