Sam Engineering & Equipment is set propel higher after breaching the MYR4.50 immediate resistance yesterday on strong trading volume, ie significantly higher than the 30-day average volume. The bullish momentum above that level is expected to propel the stock towards MYR4.79, or 5 Apr’s high, and then the MYR4.94 next resistance level – 25 Mar’s high. If it falls below the MYR4.08 support, the recent uptrend movement may reverse as it forms a “lower low” bearish pattern.

Source: RHB Securities Research - 4 Aug 2022