Mestron Holdings is poised to resume its uptrend as it re-attempted to hit the immediate resistance of MYR0.345 yesterday – coupled with high trading volume. If it pushes above that level – forming a “higher high” bullish pattern - the stock may travel towards the resistance of MYR0.365, followed by MYR0.385 ie the historical high printed on 10 May 2021. However, the stock may reverse direction if it falls below the MYR0.33 support – forming a “lower low” bearish pattern below the 21-day average line.

Source: RHB Securities Research - 23 Jun 2022