Leon Fuat is ready to climb higher after breaching above the consolidation phase of MYR0.93 on strong volume yesterday – coupled with strong buying interest shown amid a “higher high” bullish structure. The bullish bias above that level may continue to propel the stock towards the next resistance level of MYR1.00, followed by MYR1.03, which was Oct 2021’s high. Conversely, falling below the immediate support of MYR0.87 will trigger the resumption of a downward correction – below the average line.

Source: RHB Securities Research - 4 Feb 2022