Ancom Logistics is eyeing to propel northwards as it bounced off from the recent pullback towards hitting the MYR0.24 resistance yesterday. If it manages to move past that level, the stock is expected to propel towards the MYR0.265 resistance, followed by the MYR0.315 threshold – the YTD high. Conversely, the bullish momentum may lose steam if it falls below the MYR0.21 support, as it forms a “lower low” bearish pattern – cancelling yesterday’s rebound.

Source: RHB Securities Research - 10 May 2022