Minox International is attempting to stage a bullish breakout while testing the immediate resistance with a white candlestick. The stock has climbed above the 21-day SMA line, showing the bullish momentum is now picking up pace. If it closes above the MYR0.29 resistance, a bullish setup will be confirmed. In this scenario, the momentum may propel it towards MYR0.31, followed by the MYR0.33 level. In the event it breaches the MYR0.265 support, this resumes the correction phase.

Source: RHB Securities Research - 14 Nov 2024