Malakoff is resuming its upside movement after breaking past the key resistance. The stock has reclaimed the territory above the MYR0.81 resistance level to confirm a bullish setup. The 21-day SMA line is pointing upwards, showing that the short-term trend is bullish. Riding on the renewed momentum, the stock should travel towards the next resistance at MYR0.88, followed by MYR0.95. A fall below the MYR0.745 support level would negate the bullish setup.

Source: RHB Securities Research - 9 Jul 2024