Hwa Tai Industries is eyeing an uptrend rebound after bouncing off the 21-day average line yesterday while hitting the MYR0.655 immediate resistance on stronger volume. If the breakout above that level happens, the stock is expected to climb further towards MYR0.69, followed by the next resistance at MYR0.75. If it falls below the support level of MYR0.615 – yesterday’s intraday low – the stock may trend downwards, below the average line.

Source: RHB Securities Research - 9 Jun 2022