IFCA MSC is in the midst of sideways consolidation and is poised for a bullish breakout after recently testing the MYR0.29 immediate resistance level. If a breakout occurs above this level, the stock may climb towards the recent high of MYR0.31, followed by the 52-week high, which is also the MYR0.345 resistance level. In the event that the stock falls below the MYR0.27 support level, the bullish setup would be invalidated.
Source: RHB Securities Research - 28 Feb 2024
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