Hartalega is eyeing to extend the upside movement after breaking past the resistance with a white candlestick. The counter has charted a bullish candlestick and closed above the MYR3.50 resistance. After the breakout, the stock should continue moving upwards by charting fresh “higher highs”, testing the next resistance at MYR3.80, followed by the MYR4.10 level. However, a fall below the MYR3.30 support will dent market sentiment and opens the door for a correction.

Source: RHB Securities Research - 21 Nov 2024