Samchem Holdings is set for a bullish rebound following the recent pullback after bouncing off the immediate support level while breaking past the MYR0.625 immediate resistance – forming a “Bullish Marubozu” candlestick. The buying pressure above the breakout level may propel the stock towards the recent high of MYR0.68, followed by the next resistance at MYR0.72. On the flip side, a fall below the MYR0.585 support level would negate the bullish setup.

Source: RHB Securities Research - 7 Feb 2024