Censof Holdings is eyeing for an uptrend rebound as it attempted to move past the MYR0.295 immediate resistance last Friday despite retracing strongly from the intraday high. If the buying interest re-emerges and surpasses that level, the bulls are expected to drive the stock towards Aug’s high of MYR0.315, followed by MYR0.34 ie the high of 11 Feb. However, the counter may reverse direction if it falls below the MYR0.26 support, forming a “lower low” bearish structure.

Source: RHB Securities Research - 17 Oct 2022