Rubberex is poised to climb higher as it rebounded earlier last week before retracing mildly in the past two sessions –with lower volume indicating weak selling pressure during the pullback. A bullish bias may emerge if the stock bounces higher above the MYR0.665 recent high – which may be followed by a further jump towards the YTD high of MYR0.70, followed by MYR0.725. Meanwhile, a drop below the MYR0.60 point may trigger the resumption of a downward correction, negating the earlier positive rebound above that level.

Source: RHB Securities Research - 21 Apr 2022