MY E.G. Services is set to rebound higher as it managed to sustain above the MYR0.88 level yesterday following the breakout on Monday – it also reclaimed above the 21-day average line on stronger trading volume. The bullish bias above that level may see the stock climb further towards the MYR0.93 resistance, or 1 Jun’s high, followed by MYR0.955, or 5 May’s high. If it falls below the support level of MYR0.855, the stock may trend downwards below the average line.

Source: RHB Securities Research - 29 Jun 2022