Aemulus Holdings is poised for an uptrend as it bounced off the 21-day average line and attempted to move past the MYR0.615 immediate resistance yesterday – coupled with strong trading volume. If a breakout above that level happens, the bulls are expected to propel the stock towards MYR0.645, or 28 Jun’s high, followed by the MYR0.70 mark. However, the stock may reverse if it falls below the MYR0.57 support – as it may form a “lower low” bearish pattern below the average line.

Source: RHB Securities Research - 5 Aug 2022