PIE Industrial is attempting to climb higher, testing the immediate resistance with high volume. The stock has climbed above the 21-day SMA line and charted two long white candlesticks, this suggests the bullish momentum is picking up pace. If it breaks past the MYR3 resistance, the stock will scale towards the next resistance pegged at MYR3.40, followed by MYR3.70. Towards the downside, falling below the MYR2.60 support will resume the bearish phase.

Source: RHB Securities Research - 14 Aug 2023