Ocean Fresh is attempting to extend the upside movement after surging past the resistance on high volume. The stock closed above the MYR0.395 resistance with a long white candlestick, which shows the strong bullish momentum is now in play. After the breakout, we expect a follow-through price action to test the next resistance at MYR0.44, followed the by MYR0.48 level. In the event it breaches the MYR0.35 support, this invalidates the bullish setup.

Source: RHB Securities Research - 13 Nov 2024