Pentamaster Corporation is poised to resume its uptrend reversal as it attempted to hit the MYR3.71 resistance yesterday – forming a “higher low” bullish structure above the 21-day average line. If a breakout happens above that level, the stock may propel further towards the next resistance set at MYR3.89, followed by the MYR4.17 strong resistance. If it falls below the immediate support of MYR3.53 – forming a “lower low” bearish pattern – the stock may fall towards the average line.
Source: RHB Securities Research - 24 May 2022
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