SP Setia is set for an uptrend reversal, as it bounced off the 21- day average line while surpassing the consolidation phase of MYR1.24 yesterday on improved volume – printing a “higher high” bullish pattern. If it manages to stay above this point, bullish momentum may propel the stock towards the MYR1.37 level, before heading for the MYR1.41 point. Conversely, a fall below the MYR1.20 support level would trigger selling pressure as it forms a “lower low” bearish pattern
Source: RHB Securities Research - 1 Apr 2022
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