SFP Tech Holdings is set for an uptrend reversal after forming a “Morning Star” bullish reversal pattern yesterday, amid the breakout above the MYR2.47 level. The uptrend reversal is expected to persist in the coming sessions, lifting the stock towards the MYR2.75 resistance, followed by the MYR2.90 next resistance. If it drops below the MYR2.29 support, this may reverse the momentum as it will negate the bullish reversal pattern, forming a “lower low” bearish pattern.

Source: RHB Securities Research - 22 Mar 2023