GHL Systems’ downtrend may undergo a reversal, as it bounced back from the immediate support level and is now eyeing to test the immediate resistance of MYR0.85. If it breaches this point, a short-term rebound should emerge and lift the stock towards MYR0.88 (the high of 4 Apr) and MYR0.94 (the high of 7 Mar). However, if it drops below the support of MYR0.80, this will invalidate the bullish structure and pull the stock below the 21-day SMA line.

Source: RHB Securities Research - 20 Jun 2023