Hextar Industries is set to propel towards the all-time high after breaching the immediate resistance of MYR0.29 yesterday on the back of strong volume – a “higher high” bullish pattern was then observed. The latest “White Marubozu” or strong bullish candlestick indicates that follow-through bullish momentum is likely to occur. Hence, the stock is expected to reclaim the alltime high of MYR0.325, before printing a new high of MYR0.35. Conversely, falling below the immediate support of MYR0.25 may trigger the resumption of a downward correction – printing a “lower low” bearish pattern.

Source: RHB Securities Research - 1 Mar 2022