Dagang Nexchange may be undergoing a technical rebound soon, as it bounced off from the 21-day average line and is eyeing to hit the consolidation level of MYR0.80. If a breakout occurs above that level, the bullish momentum may propel the stock towards the nearest resistance of MYR0.835, then to August’s high of MYR0.865. That said, this expectation will be nullified if it falls below the support level of MYR0.755 – which is below the average line.

Source: RHB Securities Research - 1 Nov 2021