PT Resources Holdings is set for an uptrend reversal as it climbed above the MYR0.505 immediate resistance yesterday, forming a “higher high” bullish pattern. Coupled with improved trading volume, the stock is set to scale towards the MYR0.545 immediate resistance, or 9 Mar’s high, followed by the MYR0.60 threshold. However, if the stock drops below the MYR0.475 support, the momentum may reverse and form a "lower low" bearish pattern, below the 21-day moving average line.

Source: RHB Securities Research - 12 Apr 2023