The bullish momentum reared up and propelled Infoline Tec Group past the immediate resistance of MYR0.385. The stock printed a fresh “higher high” bullish candlestick, showing that sentiment has turned positive. Riding on the momentum, it should climb towards MYR0.42, followed by MYR0.45. On the other hand, falling below the MYR0.355 support or the 21-day SMA line would negate the positive expectation.
Source: RHB Securities Research - 1 Sept 2022