• MYEG rose 2.3% or 4 sen to RM1.76 yesterday.

• MYEG formed a solid rebound from low of RM1.61 since 8 July 2021 and continue to trend higher on the back of healthy trading volume. Yesterday’s move saw MYEG broke past the minor consolidation phase and climbed above short-term moving average line. As such, we expect the buying momentum to continue in near term.

• Resistance levels are anticipated at RM1.81 (R1) and next at RM1.93 (R2).

• Conversely, support levels are seen at RM1.69 (S1) and RM1.61 (S2).

Source: Rakuten Research - 27 Jul 2021