Aemulus Holdings is set for a rebound following three consecutive bullish sessions from the recent bottom – surpassing the 21-day average line and immediate resistance. If it manages to sustain above yesterday’s breakout level of MYR0.64, the bullish bias may propel the stock towards the MYR0.68 resistance, followed by the MYR0.71 next resistance, which was 3 Jun’s high. However, the stock may reverse direction if it falls below the MYR0.60 support – forming a “lower low” bearish pattern below the average line.

Source: RHB Securities Research - 29 Jun 2022