Ajiya is poised to rebound higher towards its all-time high as it bounced off the 21-day average line, while heading towards the immediate resistance of MYR1.19. If it manages to surpass that level, the stock may propel further towards the all-time high of MYR1.25, before exceeding that and notching a new peak of MYR1.30. Conversely, falling below the MYR1.09 support should trigger selling pressure, printing a “lower low” bearish pattern.
Source: RHB Securities Research - 17 Mar 2022
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