Innoprise Plantations is set for a counter-trend rebound, as it underwent a strong rebound while moving towards the immediate resistance of MYR1.77 (which it breached) yesterday. If it manages to stay above that level, the bullish momentum may travel above the 21-day average line towards the immediate resistance of MYR1.94, followed by MYR2.08. Conversely, falling below the MYR1.65 support should trigger selling pressure, thereby forming a “lower low” bearish pattern.

Source: RHB Securities Research - 23 Mar 2022