Innoprise Plantations is set for a rebound after it surpassed the MYR1.87 resistance level – on the back of stronger volume. If it manages to sustain above that threshold, a resumption of uptrend may lift the stock towards breaching the 21-day average line and hitting the MYR1.97 mark, followed by the MYR2.16 next resistance. However, the stock may reverse downwards if it falls below the MYR1.70 support, forming a “lower low” bearish pattern – below the average line.

Source: RHB Securities Research - 25 May 2022