Ancom is set to propel towards a historical high, as it bounced off the nearest support of MYR 2.76 while breaching above the 21-day average line last Friday. If it manages to stay above the nearest support level, the bullish momentum may continue to propel it towards the MYR3.00 historical high, before possibly printing its new high level at MYR3.20. This expectation will be nullified if it falls below the support level of MYR2.63.

Source: RHB Securities Research - 13 Dec 2021