Gabungan AQRS is set to rebound from a recent pullback, as it bounced off the 21-day SMA line and pushed past the immediate resistance of MYR0.315 yesterday, forming a “higher high” bullish pattern. If the breakout is sustained, the bulls may propel the stock towards the recent high of MYR0.35, followed by the MYR0.40 mark. However, if the stock falls below the support of MYR0.28, forming a “lower low” bearish pattern, it would negate our expectations.

Source: RHB Securities Research - 30 Mar 2023