Wentel Engineering is posing a bullish technical setup after breaking past the key resistance. The counter has climbed above the MYR0.385 resistance and closed with a bullish candlestick. The 21-day SMA line is pointing upwards, showing the shortterm trend is bullish. We expect the positive price action to follow through during the coming sessions, testing the MYR0.41 level, followed by the MYR0.435 mark. A breach below the MYR0.355 support opens the door for corrections.

Source: RHB Securities Research - 11 Jul 2024