Yew Lee Pacific Group is poised to resume its uptrend, as it attempted to breach the immediate resistance of MYR0.285 yesterday, coupled with improved trading volume while firming up its “higher low” bullish structure. If a breakout above that level happens – thereby forming a “higher high” bullish pattern – the bulls are expected to propel the stock towards MYR0.30, or 16 Jun’s high, followed by the MYR0.33 historical high. However, the stock may reverse direction if it falls below the MYR0.27 support, as it may form a “lower low” bearish pattern.

Source: RHB Securities Research - 9 Aug 2022