Astro Malaysia Holdings is in the midst of a rebound amid a sideways consolidation, as it attempted to move past the MYR1.03 resistance yesterday on high trading volume – it retraced mildly during the intraday. If it manages to reclaim that level and breach aboveit – forming a “higher high” bullish pattern – it may travel towards the next resistance point of MYR1.10, followed by the MYR1.13 mark. Conversely, falling below the immediate support of MYR0.98 may trigger the resumption of a downward correction beneath the 21-day average line.

Source: RHB Securities Research - 15 Mar 2022