Senheng New Retail is firming up its uptrend reversal, as it bounced off above the MYR0.84 immediate resistance recently and continue to inched higher yesterday – coupled with high volume. If it manages to stay above that point, the bulls may propel the stock towards February’s high of MYR0.95, followed by the next resistance of MYR1.04 – the highest point during its first day of trading session. However, the momentum may lose steam if it falls below the MYR0.795, printing a “lower low” bearish pattern.

Source: RHB Securities Research - 24 Mar 2022