Muhibbah Engineering is set to propel upwards as it reclaimed above the MYR0.565 resistance yesterday – forming a “higher high” and “higher low” bullish pattern. The bullish momentum above that level may propel the stock towards the MYR0.595 resistance. This is then followed by the MYR0.615 next resistance. Meanwhile, a drop below the MYR0.535 support may reverse the momentum southwards as it forms a “lower low” bearish structure below the 21-day average line.

Source: RHB Securities Research - 24 May 2022