Hap Seng Plantations is poised to resume the bullish trajectory after staging a bullish breakout. The stock has closed above the MYR2.16 resistance with a white candlestick – showing the bullish momentum is reaccelerating. After the breakout, expect the counter to extend the upside movement towards MYR2.35, followed by the MYR2.50 mark. On the other hand, falling below the MYR2.04 support will open the door for correction.

Source: RHB Securities Research - 6 Dec 2024