Computer Forms is set to propel upwards after having experienced a technical breakout yesterday – surpassing the MYR1.15 immediate resistance on strong trading volumes and printing a “White Marubozu” bullish candlestick. The bullish bias above that level may propel the stock towards the MYR1.25 mark and then the MYR1.30 threshold. However, the counter’s uptrend movement may reverse if Computer Forms falls below the MYR1.08 support, as it may trade below the 21-day average line.
Source: RHB Securities Research - 27 Jul 2022