Public Packages Holdings is set to print a new 52-week high after breaching the MYR0.615 immediate resistance on improved trading volume yesterday – forming a “higher high” bullish pattern above the 21-day average line. If the breakout is sustained, the uptrend may take the stock to the next resistance level of MYR0.705, which is also 10 May 2021’s high, followed by MYR0.73 (the high of 5 May 2021). However, the stock may reverse direction if it falls below the MYR0.57 support – as it may form a “lower low” bearish pattern.

Source: RHB Securities Research - 6 Sept 2022