Resintech is attempting to stage a bullish breakout, testing the immediate resistance with a long white candlestick. The counter printed a bullish candlestick yesterday on the heels of strong volume. If it breaks past the MYR0.70 resistance, this will attract fresh buying pressure. In this case, the stock will climb towards MYR0.735,followed by the MYR0.77 level.On the flipside, falling below the MYR0.66 support resumes the correction phase.

Source: RHB Securities Research - 13 Dec 2024