Kenanga Investment Bank is set to rebound further towards its recent high, as it jumped above the MYR1.27 immediate resistance on Monday and stayed above that level yesterday. If it manages to stay above that level, the stock may push further towards the recent high of MYR1.35, before reaching MYR1.40. Conversely, falling below the MYR1.22 support should trigger selling pressure, printing a “lower low” bearish pattern.

Source: RHB Securities Research - 16 Mar 2022