QL Resources is set to rebound from a recent pullback, as it bounced off above the 21-day average yesterday while breaching the MYR5.08 resistance level – printing a “White Marubozu” bullish candlestick. If the positive momentum persists, the stock may travel towards the next resistance at the YTD high of MYR5.26, followed by the MYR5.40 threshold. However, the stock may reverse direction if it falls below the MYR4.90 support – which is also beneath the average line.

Source: RHB Securities Research - 16 Jun 2022