Berjaya Land is attempting to break past the immediate resistance after charting a bullish candlestick. The counter rose to test the MYR0.42 resistance level yesterday. If it closes above the immediate resistance, a bullish setup will be confirmed. In this scenario, the counter may extend its upside movement towards MYR0.45, followed by MYR0.48. However, a fall below the MYR0.39 support level would kick off downward movement.
Source: RHB Securities Research - 18 Jul 2024
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