Carlo Rino is poised to continue its upside movement after breaking past the resistance with a Bullish Marubozu candlestick. The stock has climbed above the 21-day SMA line and breached the MYR0.22 resistance, showing that a bullish technical setup is in effect. It may continue on a “higher high” movement to test the MYR0.235 point, followed by MYR0.25. Conversely, a fall below the MYR0.205 support level would lead to the resumption of a downward movement.

Source: RHB Securities Research - 3 Feb 2025