Supermax Corp is eyeing to extend the bullish trajectory after breaking past the resistance on strong volume. The counter has charted a fresh bullish candlestick and closed above the MYR1.05 resistance. We have observed the trading volume increasing in tandem with share price, which shows a strong bullish momentum is underway. Riding on this momentum, the stock may travel towards MYR1.15 followed by the MYR1.25 mark. On the other hand, falling below the MYR1 support will dent market sentiment and opens the door for corrections.

Source: RHB Securities Research - 11 Dec 2024