Gabungan AQRS is set for an uptrend reversal as it rebounded strongly above the 21-day SMA line – breaking above the MYR0.32 level. If the breakout sustains, the stock is set to head towards the MYR0.35 resistance, followed by the MYR0.375 next resistance. A drop below the MYR0.29 support – forming a fresh “lower low” bearish pattern – would dent sentiment and spark a downtrend.
Source: RHB Securities Research - 17 Aug 2023
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