Life Water is eyeing to extend the upside movement after staging a bullish breakout on the heel of high volume. The stock printed a long bullish candlestick and closed above the MYR0.90 resistance, which indicates a strong bullish momentum is now in play. Premised on this momentum, the counter will climb towards MYR0.955, followed by the MYR1.03 level. On the other hand, falling below the MYR0.85 support opens the door for a correction phase.

Source: RHB Securities Research - 26 Dec 2024