Hevea is attempting to rebound from its recent retracement, as it bounced off the support towards hitting the MYR0.55 resistance. If it manages to reclaim a position above that threshold, a counter-trend rebound might be seen heading towards hitting the MYR0.60 resistance – this is followed by the next resistance at MYR0.645. However, the stock may continue its downtrend movement if it falls below the MYR0.50 support, as it forms a “lower low” bearish pattern.

Source: RHB Securities Research - 20 May 2022