GHL Systems is poised to initiate a rebound as it bounced off the 21-day SMA line while hitting the MYR0.93 resistance last Friday – this is coupled with improved volumes. If it manages to surpass that level in the coming sessions, the bullish bias above that threshold may propel the stock higher towards the MYR1 psychological level. This will be followed by the next resistance at MYR1.10. Conversely, the counter may reverse direction if it falls below the MYR0.855 support, forming a “lower low” bearish structure below the average line.

Source: RHB Securities Research - 27 Dec 2022