Media Prima is attempting to stage an uptrend reversal as it bounced off the 21-day average line yesterday while hitting the immediate resistance of MYR0.465, on strong volume. If a breakout happens above that level, the bulls may propel the stock to the resistance level of MYR0.495 or 24 Aug’s high, followed by MYR0.52 ie the high of 31 May. However, the counter may reverse direction if it falls below the MYR0.415 support, negating the previous breakout level.

Source: RHB Securities Research - 12 Oct 2022