Syarikat Takaful Malaysia Keluarga is poised to trend higher, as it rebounded above the rising 21-day SMA line on stronger trading volume and headed towards the MYR3.75 immediate resistance last week. If a breakout above that level happens, the bullish momentum may propel the stock towards the MYR3.86 resistance ie the YTD high, followed by the next resistance at the MYR4 mark. Towards the downside, dropping below the MYR3.60 support would reverse the trend further.

Source: RHB Securities Research - 27 Nov 2023