Swift Haulage is set for an uptrend reversal, as it bounced off the 21-day average line last Friday while crossing above the MYR0.765 resistance. Buying pressure above that level may drive the stock towards MYR0.825, followed by the next resistance of MYR0.865 – the highest point since 17 Feb. Meanwhile, a fall below the next support point of MYR0.725 may trigger the resumption of a downward correction, as it forms a “lower low” bearish structure beneath the 21-day average line.

Source: RHB Securities Research - 11 Apr 2022