Radiant Globaltech is set to rebound towards its recent high after recently breaching above the MYR0.43 immediate resistance. A mild pullback was also observed yesterday, coupled with a tapering of volume. If it manages to retain above this resistance-turned-support level, a follow through of this bullish momentum should propel the stock towards the MYR0.465 recent high, followed by the next resistance at MYR0.51, ie its 52-week high. If it falls below the MYR0.40 support, the stock is expected to trend downwards.

Source: RHB Securities Research - 15 Dec 2021