Eonmetall Group is poised to resume the uptrend as it attempted to reclaim the territory above the recent high of MYR0.74 last Friday. If it manages to break above that point – forming a “higher high” bullish structure – a bullish bias above that level may drive the counter further north towards MYR0.815 or 5 May 2021’s high, followed by MYR0.88, which was the high of 19 Aug 2016. If it falls below the MYR0.615 support, the stock may undergo a reversal in momentum as it forms a “lower low” bearish pattern, below the 21-day SMA line.

Source: RHB Securities Research - 26 Sept 2022