Telekom Malaysia is eyeing to extend the bullish trajectory, testing the immediate resistance with a white candlestick. On Friday, the counter printed a “higher low” candlestick, showing the bullish momentum is picking up pace. In the event it closes above the MYR6.75 resistance, the bullish bias will be confirmed. In this case, it may climb towards MYR7, followed by the MYR7.35 level. On the other hand, falling below the MYR6.40 support will resume the correction phase.

Source: RHB Securities Research - 23 Dec 2024