Seng Fong is looking to extend its bullish trajectory after breaking past the resistance level on strong volume. The stock has closed above the MYR1.20 resistance with a long bullish candlestick, showing that the underlying momentum is positive. After the breakout, it should continue to travel towards MYR1.30, followed by the MYR1.45 level. On the downside, a fall below the MYR1.07 support level will negate the bullish setup.

Source: RHB Securities Research - 2 Oct 2024