Fajarbaru Builder is eyeing further upside movement after climbing above the resistance level with strong volume. The stock printed a white candlestick and closed above the MYR0.415 resistance level, showing that strong bullish momentum is in play. After the breakout, we expect follow through price action to test the next resistance level at MYR0.45, followed by the one at MYR0.48. If it falls below the MYR0.38 support level, the bullish setup will be negated.

Source: RHB Securities Research - 14 Oct 2024