Rohas Tecnic is staging a rebound as it bounced off strongly from the 21-day average line for two consecutive sessions, when it pushed past the MYR0.30 threshold yesterday. If it remains above that level, the stock may climb further towards the resistance point of MYR0.345 (7 Jun’s high), followed by 28 Oct 2021’s high at MYR0.375. If it falls below the support level of MYR0.27, the stock may trend downwards, forming a “lower low” bearish pattern below the average line.

Source: RHB Securities Research - 23 Jun 2022