MyEG Services is poised for an upward rebound, as it attempted to move past the immediate resistance of MYR0.99 yesterday, while forming a “higher low” bullish pattern above the 21-day average line. If buying interest follows through above that level, the stock is expected to travel towards the next resistance of MYR1.06, followed by January’s high of MYR1.10. Conversely, falling below the immediate support of MYR0.925 may trigger the resumption of a downward correction, as it forms a “lower low” bearish pattern below the average line.
Source: RHB Securities Research - 24 Mar 2022
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