MY E.G. Services is poised to firm up the recently formed uptrend reversal as buying interest re-emerged above the 21- day average line to retest the MYR0.865 resistance yesterday. If a breakout happens above that level, the stock may climb to reclaim the recent high of MYR0.895, or 13 Sep’s high, before propelling further towards the MYR0.94 level, which was the 5 May’s high. If it falls below the MYR0.82 support, the stock may see a reversal in momentum as it forms a “lower low” bearish pattern, below the average line.

Source: RHB Securities Research - 4 Oct 2022