Milux Corporation is set for a technical rebound, as it bounced off the support level while breaching the MYR0.895 resistance level and the 21-day average line. The immediate-term bullish momentum should bring the stock towards the MYR1.03 resistance level, then MYR1.10 or its YTD high. However, the positive momentum may dissipate if it falls below the MYR0.84 support level, as it may form a “lower low” bearish pattern below the average line.

Source: RHB Securities Research - 11 May 2022