Dayang Enterprise Holdings is set to continue its uptrend following a recent pullback, as it broke above the MYR0.935 immediate resistance on strong trading volume – printing a “long white” candlestick yesterday. The “higher high” bullish pattern emerged yesterday, indicating an uptrend continuation towards the next resistance level at MYR1.12, followed by MYR1.16. Conversely, falling below the MYR0.90 support will trigger the selling pressure and reverse the momentum, thereby sparking a downtrend.

Source: RHB Securities Research - 4 Feb 2022