Rubberex Corporation is poised to rebound from its recent pullback as it bounced off above the 21-day average line after attempting to climb above Tuesday’s MYR0.73 high yesterday. If it manages to close above that mark, the stock is set to reclaim the recent high at MYR0.78, followed by the MYR0.845 next resistance. Meanwhile, a drop below the MYR0.70 support may reverse the momentum southwards as it forms a “lower low” bearish structure below the average line.

Source: RHB Securities Research - 12 May 2022