NationGate is exhibiting a bullish setup, and is poised to extend its upside movement. Since crossing above the 21-day SMA line, the stock has been moving on an uptrend, charting a series of “higher highs” and “higher lows”. Meanwhile, the stock has broke past the MYR1.46 resistance on strong volume, signifying the bullish momentum is increasing again. An extension of this movement will see the stock climb towards MYR1.56, followed by MYR1.70. On the flipside, falling below the MYR1.38 support will pause the bullish movement.

Source: RHB Securities Research - 17 Jul 2023