Aemulus Holdings is eyeing a counter-trend rebound as it inched higher – surpassing the 21-day average line – and headed towards the MYR0.665 immediate resistance. Coupled with strong volumes, if it manages to surpass that level – forming a “higher high” bullish pattern – the stock may persist its uptrend reversal towards MYR0.71. This is followed by the MYR0.76 next resistance. However, the stock may move in downtrend heading if it falls below the MYR0.615 support, as it forms a “lower low” bearish pattern – reclaiming below the average line.

Source: RHB Securities Research - 27 May 2022