Chin Hin Group is eyeing to resume its uptrend movement from the recent pullback as it bounced off the 21-day average line to reclaim above the previous breakout level yesterday. If it continues to climb above Tuesday’s high of MYR3.84, a bullish bias could be established. If that happens, the stock is set to reclaim the all-time high at the MYR4.00 threshold before possibly printing a new high level at the MYR4.10 mark. Conversely, the bullish momentum may be shortlived if it falls back below the previous breakout level of MYR3.63 amid the “lower high” bearish pattern.

Source: RHB Securities Research - 12 May 2022