Orgabio may be headed for a bullish breakout while undergoing a consolidation. The stock has undergone a rebound from the 21- day SMA line and printed a bullish candlestick. The price action shows that the bulls still have the technical advantage. If the stock breaks past the MYR0.39 resistance, a bullish bias should emerge. Expect the resulting price action to test the next resistance of MYR0.42, followed by MYR0.46. On the other hand, breaching below the MYR0.36 support will extend the downside correction.
 

Source: RHB Securities Research - 10 Jun 2024