Pentamaster Corporation is set to resume the uptrend as it rebounded strongly following the recent pullback – breaking above the immediate resistance of MYR3.83 with strong trading volume. The bulls above that level are expected to propel the stock towards the immediate resistance at MYR3.98, or 3 Jun’s high, before heading towards the MYR4.15 next resistance, or the high of 23 Mar’s high. If it falls below the support level of MYR3.67, the bullish momentum may reverse as it forms a “lower low” bearish pattern.

Source: RHB Securities Research - 28 Jul 2022