SKB Shutters Corporation is set to resume its counter-trend rebound as it bounced off the 21-day average line while crossing above the MYR0.40 immediate resistance level – supported by strong volume. The “higher high” bullish pattern is expected to advance the stock towards the MYR0.44 resistance, before reclaiming the recent high at MYR0.455. Meanwhile, a drop below the MYR0.375 support may trigger the resumption of a downward correction, below the average line.

Source: RHB Securities Research - 27 Apr 2022