Tomei Consolidated is set to resume its recent uptrend rebound as it broke above the MYR0.835 immediate resistance yesterday – printing a fresh “higher high” bullish pattern. The bulls above that level are expected to propel the stock towards the immediate resistance at MYR0.89 or 5 Jul’s low before heading towards the MYR0.93 next resistance, ie the high of 28 Jun’s. If the counter falls below the support level of MYR0.82, the bullish momentum may reverse as it forms a “lower low” bearish pattern.

Source: RHB Securities Research - 29 Jul 2022