Poh Huat Resources Holdings is consolidating sideways while establishing an interim support near the 21-day average line. If it manages to rebound above the MYR1.50 sideways consolidation phase, the stock may propel upwards towards the MYR1.57 recent high, followed by MYR1.60 mark. If it falls below the support of MYR1.45, selling pressure may emerge as it sets to draw a “lower low” bearish structure below the average line.

Source: RHB Securities Research - 17 May 2022