Bermaz Auto is poised for a technical breakout as it bounced off strongly towards the immediate resistance of MYR1.81 yesterday – coupled with strong trading volume. If a breakout happens, the bullish bias above that level may propel the stock towards the MYR1.90 mark, and then the MYR2.00 threshold. However, the stock’s uptrend movement may reverse if it falls below the MYR1.75 support – as it may form a “lower low” bearish pattern.
Source: RHB Securities Research - 28 Jul 2022
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Created by rhbinvest | Apr 25, 2024