Zantat Holdings has been in a consolidation phase since midApril, hovering between the MYR0.455 and MYR0.515 range. If it manages to break past MYR0.515, the sideways consolidation movement would shift to an uptrend, heading towards MYR0.56 – the highest point since its debut this year – before potentially reaching a new high level at MYR0.60. On the flip side, falling below the MYR0.455 support will negate the bullish setup as it would then be trading below the consolidation phase.

Source: RHB Securities Research - 21 May 2024