Genetec Technology is set to rebound higher, as it bounced off the 21-day SMA line and reclaimed the territory above the MYR2.69 previous breakout level yesterday. If it manages to stay above that level, we expect strong buying interest to emerge later to propel the stock higher towards the MYR2.87 recent high, before hitting the MYR3.00 threshold. The momentum may be reversed if it drops below MYR2.56 – forming a “lower low” bearish pattern, below the average line.

Source: RHB Securities Research - 14 Dec 2022