Coastal Contracts is eyeing to rebound higher as it closed in a positive tone yesterday, above the 21-day average line – coupled with improved trading volume. If the momentum follows through and propel the stock above the nearest resistance of MYR1.95 (the previous session’s high), it may rebound higher towards the MYR2.05 immediate resistance, or 22 Sep’s high, followed by MYR2.09, or the YTD high. However, the counter may reverse direction if it falls below the MYR1.91 support – trending downwards below the average line.

Source: RHB Securities Research - 29 Sept 2022