Pecca Group is set to resume its upward rebound as it inched up and crossed above the MYR0.875 immediate resistance level yesterday – forming a “higher high” bullish pattern. If it manages to sustains above that level, the bulls are expected to propel higher towards the 52-week high of MYR0.935, before testing the MYR1.00 psychological level. However, the bullish momentum may reverse if it falls below the MYR0.83 support, heading southwards as it crosses below the 21-day average line.
Source: RHB Securities Research - 1 Nov 2022
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