AGX is eyeing a bullish breakout after testing the immediate resistance level with strong volume. The counter has printed a bullish candlestick, and trading volume has increased. If the stock closes above the MYR0.345 resistance level, a bullish bias will emerge. In this case, the counter would extend its upside movement towards MYR0.38, followed by MYR0.42. However, a fall below the MYR0.31 support level would lead to a resumption of the correction phase.

Source: RHB Securities Research - 16 Jul 2024