QES Group is eyeing for an uptrend reversal pattern as it bounced off the support to hit the MYR0.615 immediate resistance yesterday. If it manages to break above that level, which will also see it reclaiming above the 21-day average line, the bullish bias should lift the stock towards the MYR0.65 resistance, followed by the MYR0.72 next resistance, ie 8 Feb’s opening. However, if the stock falls below the support of MYR0.585, our expectations would be negated.

Source: RHB Securities Research - 23 Mar 2023