Dayang Enterprise Holdings is set to resume its uptrend as it rebounded strongly from the intraday low yesterday to close above the MYR1.11 resistance level with a “White Marubozu” bullish candlestick. Bullish bias above that level may drive the counter north further, towards the recent high of MYR1.16, followed by MYR1.20 or 22 Jul’s high. If it falls below the MYR1.02 support, the momentum may reverse direction, as it forms a “lower low” bearish pattern below the average line.

Source: RHB Securities Research - 15 Sept 2022