Mestron Holdings may propel higher as it bounced off the 21- day average line while aiming for the immediate resistance of MYR0.35 yesterday – supported by improved trading volume. If it breaches that level, the bulls should push the stock towards the resistance point of MYR0.375 (the high of 18 Jun 2021), before heading for MYR0.385 ie the high of 10 May 2021. If it drops below MYR0.33, the bullish momentum may reverse direction as it forms a “lower low” bearish pattern below the average line.

Source: RHB Securities Research - 2 Aug 2022