Aemulus Holdings is set to reclaim its recent high after it bounced off the 21-day average line and broke above the MYR0.505 level yesterday – coupled with significant trading volume, which helped to form a “higher high” bullish pattern. The bullish structure above average line should push the stock towards 21 Dec 2022’s high of MYR0.535, followed by MYR0.59 – 16 Aug 2022’s high. Conversely, the counter may reverse its direction if it falls below the MYR0.48 support, forming a “lower low” bearish structure below the average line.

Source: RHB Securities Research - 13 Jan 2023