Heveaboard is set to resume its uptrend movement as it climbed above the recent high of MYR0.565 on improved trading volume – marking a new YTD high, after breaching above the MYR0.565 immediate resistance on stronger volume – printing a “higher high” bullish pattern. The uptrend which started on 21 Mar may persist until the stock reaches MYR0.60, before marking the MYR0.64 resistance. Conversely, the stock may reverse direction if it falls below the MYR0.54 support, as it forms a “lower low” bearish structure.

Source: RHB Securities Research - 21 Apr 2022