Southern Cable Group is poised to continue the bullish trajectory after climbing above the resistance on high volume. The stock has charted a white candlestick and closed above the MYR0.98 resistance, confirming a bullish setup is now in play. Volume has been increasing in tandem with share price, showing the underlying bullish momentum is strong. Post breakout, it should extend the upside movement towards MYR1.05, followed by the MYR1.12 level. On the flipside, a fall below the MYR0.90 support negates the bullish setup and kickstarts the correction.

Source: RHB Securities Research - 21 Nov 2024