Kumpulan Jetson is poised for an uptrend rebound as it is in the process of consolidating sideways following a recent rebound – hitting the 21-day average line. If it manages to move past the immediate resistance of MYR0.26 – last Thursday’s high – the bulls are expected to propel the stock towards the next resistance at MYR0.305 before heading towards the MYR0.32 strong resistance, ie the high of 8 Jun. If it falls below the MYR0.235 support level, the counter may trend downwards, as the selling pressure is accelerating below the average line.

Source: RHB Securities Research - 26 Jul 2022