ITMAX SYSTEM’s uptrend may be extended post a bullish breakout. The counter has climbed above the MYR2.45 resistance to form a fresh “higher high” bullish candlestick. The rising 21-day SMA line indicates that the short-term trend is a bullish one. An extension of the bullish structure should see the counter travel towards MYR2.65, followed by MYR2.80. Conversely, breaching below the MYR2.33 support will nullify the bullish expectation.

Source: RHB Securities Research - 24 Jun 2024