Aurelius Technologies is set to resume its uptrend movement as it bounced off the recent pullback and broke above the MYR1.73 level last Friday on improved trading volume. The bullish momentum above that level is expected to persist, with the stock moving towards the next resistance level of MYR1.83 or 5 Aug’s high, followed by MYR2.05 ie the high of 25 Mar. However, the stock may reverse direction if it falls below the MYR1.58 support – as it may form a “lower low” bearish pattern below the 21- day average line.
Source: RHB Securities Research - 15 Aug 2022
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