Closed:                    RM0.185

Resistance:              (R1) RM0.215/(R2) RM0.28

Support:                  (S1) RM0.155/(S2) RM0.12

Pan Malaysia Holdings Bhd (1287) rose 4 sen to RM0.185 with active trading volume to break out from the 200-day (orange line) moving average.

Technical indicators are encouraging with the MACD crossing above its signal line and the RSI climbing out of the oversold zone.

After Friday’s surge, the stock could pull back but has a chance to extend its rebound if share price sustains above 18 sen where the 23.6% Fibonacci retracement level stands. For the downside, we advise traders to cut loss if the price falls below the immediate support of RM0.155, marked by the 200-day (orange line) moving average.