Poh Kong Holdings is oscillating at the bottom between the MYR0.79 support and MYR0.835 resistance while eyeing to trade above the 21-day average line. Following the recent mild rebound, strong buying interest near the support is expected to rebound the stock further above the resistance level. If the MYR0.835 resistance is breached, the stock may rebound higher towards MYR0.875, followed by MYR0.93. However, the stock may reverse in trend if it falls below the MYR0.79 support level forming a “lower low” bearish pattern.

Source: RHB Securities Research - 13 Jun 2022