Magnum broke past its immediate resistance with high trading volume. We observe that its share price is moving higher in tandem with higher trading volume, indicating that buying interest is gaining traction. If the stock manages to sustain above the MYR1.92 immediate resistance, it may climb towards the higher resistance at MYR2.02, followed by MYR2.10. Conversely, falling below the MYR1.84 support level would signify the end of the upward rebound.

Source: RHB Securities Research - 5 Jan 2022