Milux Corporation is attempting to initiate an upward rebound, as it managed to sustain above the recent breakout level of MYR1.45 following a recent pullback. If it manages to stay above that level, it may hit the immediate resistance of MYR1.62, before possibly reaching the historical high of MYR1.67. However, falling below the MYR1.34 support – forming a “lower low” bearish structure – may see the stock descending further.

Source: RHB Securities Research - 1 Dec 2021