Supercomnet Technologies is looking to extend its bullish movement after breaking past the key resistance. The counter has climbed above the MYR1.50 resistance level to form a fresh “higher high” bullish candlestick. The 21-day SMA line is moving upwards, showing that the short-term trend is bullish. After the bullish breakout, we expect follow through price action to test the MYR1.63 level, followed by MYR1.75. A fall below the MYR1.40 support level would kick off a correction phase.

Source: RHB Securities Research - 10 Jul 2024