Mega Fortris is poised to continue on a bullish pathway after staging a bullish breakout on the back of high volume. The stock has printed a white candlestick and closed above the MYR0.625 resistance, which shows the technical setup is bullish. Premised on the renewed momentum, the counter may extend the upside movement towards MYR0.65, followed by the MYR0.70 level. In the event it breaches below the MYR0.595 support, thiswill dent market sentiment and see the resumption of the correction phase.

Source: RHB Securities Research - 19 Dec 2024