Subur Tiasa Holdings is poised to resume its uptrend as it attempted to surpass the MYR2.42 immediate resistance yesterday on stronger trading volume. Note that the strong rebound, which started since 4 Apr, is expected to persist if it manages to move past that level. If that happens, buying interest above that point should propel the stock towards the next resistance at MYR2.60, and then MYR2.70. If it falls below the support level of MYR2.11, the bullish momentum is likely to lose steam, causing the stock to fall further below the 21-day average line.

Source: RHB Securities Research - 26 Apr 2022