AYS Ventures is set to rebound higher as it climbed and successfully surpassed the MYR0.45 resistance yesterday – coupled with surging trading volume. Riding on the fresh “higher high” bullish pattern, the stock may climb towards the 2-month high of MYR0.49 – 16 Nov 2022’s high – before reclaiming the MYR0.52 resistance (recorded on 23 May 2022). However, the counter may move downwards if it drops below the MYR0.425 support, as it trades below the 21-day average line while forming a “lower low” bearish pattern.

Source: RHB Securities Research - 12 Jan 2023