MN Holdings’ uptrend could be extended after it broke out from the immediate resistance, on high volume. The stock has climbed above the MYR0.355 resistance and charted a fresh “higher high”. This, coupled with the increasing volume, indicates that a strong bullish momentum is underway. The bulls may test the next resistance pegged at MYR0.39, then MYR0.42. Towards the downside, falling below the MYR0.325 support will negate the bullish setup and set off a correction phase.

Source: RHB Securities Research - 9 Oct 2023