PCCS Group is set to trend north as it rebounded strongly from the 21-day average line, surpassing the previous immediate resistance of MYR0.67 and forming a “higher high” bullish structure. The bullish bias above that level may propel it further towards the MYR0.71 point (24 Aug’s high), followed by the MYR0.80 threshold. However, the counter may reverse direction if it falls below the MYR0.61 support – trading below the average line while forming a “lower low” bearish structure.

Source: RHB Securities Research - 20 Sept 2022