Pertama Digital is set to print a multi-year high as it bounced off the 21-day average line while reclaiming above the MYR0.945 resistance last Friday. If it manages to sustain above that level, the stock is set to rebound stronger towards the MYR1.00 psychological level – the highest level recorded since 2010, followed by the MYR1.10 mark. Meanwhile, a drop below the MYR0.895 support may reverse the momentum southwards as it forms a “lower low” bearish structure below the average line.
Source: RHB Securities Research - 17 May 2022
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