PT Resources Holdings is looking to stage a bullish breakout to extend the upside movement and test the MYR0.43 immediate resistance. We observed the stock has been moving sideways for consolidation in the past two sessions. If breakout happens, we expect strong positive price action to follow through. The stock may climb towards the next resistance pegged at MYR0.47 and followed by MYR0.50. On the downside, a breach of the MYR0.395 support would negate the positive expectation.

Source: RHB Securities Research - 17 Nov 2022