Southern Score Builders’ uptrend may be extended after it breached the resistance on strong volume. The counter has climbed above the 21-day SMA line and closed above the MYR0.585 resistance, thereby affirming a bullish setup. The trading volume has been increasing along with the share price, which points to a bullish underlying momentum. This should lift the stock towards MYR0.64, followed by MYR0.69. Conversely, falling below the MYR0.53 support would lead to the resumption of a downtrend.

Source: RHB Securities Research - 23 Sept 2024