Signature International is in the process of consolidating sideways above the 21-day average line amid forming a “higher high” bullish structure. If the stock manages to bounce off the consolidation level of MYR1.44, a follow-through of this bullish momentum should propel the stock towards the MYR1.50, or its all-time high, before possibly marking a new high at MYR1.60. Conversely, falling below the immediate support of MYR1.32 may trigger the resumption of a downward correction below the 21-day average line.

Source: RHB Securities Research - 8 Mar 2022