IFCA MSC is eyeing to continue the bullish trajectory after breaking past the resistance on strong volume. The counter printed a “higher high” bullish candlestick and closed above the MYR0.65 resistance, signalling that the bullish momentum is gaining momentum. Premised on this bullish movement, the stock may travel towards MYR0.71, followed by the higher resistance at the MYR0.76 level. On the flipside, falling below the MYR0.60 support will kickstart the correction.

Source: RHB Securities Research - 9 Dec 2024