Mynews is eyeing to extend the upside movement after staging a bullish breakout. The stock closed above the MYR0.645 resistance with a white candlestick. Meanwhile, we have observed that trading volume has been increasing in tandem with the share price, which shows the bullish momentum is picking up pace again. After the breakout, we expect a followthrough price action to test the MYR0.68 mark, followed by the MYR0.71 level. On the other hand, a fall below the MYR0.615 support will open the door for a correction phase.

Source: RHB Securities Research - 29 Nov 2024