Ann Joo Resources is poised to resume its uptrend rebound as it bounced off from a recent pullback to hit the MYR1.19 immediate resistance yesterday – coupled with improved trading volume. If a breakout above that level happens, the stock may climb further towards MYR1.25 ie 2 Aug’s high, followed by MYR1.32 (the high of 13 Jun). However, the stock may reverse direction if it falls below the MYR1.13 support – as it may form a “lower low” bearish pattern.

Source: RHB Securities Research - 10 Aug 2022