Ahmad Zaki Resources is set to resume its uptrend after rebounding from the 21-day SMA line, surpassing the MYR0.255 resistance yesterday on surging trading volume. This, coupled with the “higher high” bullish pattern, should push the stock towards the resistance points of MYR0.29, then MYR0.33. However, falling below the MYR0.22 support would indicate a downtrend, with the formation of a “lower low” bearish pattern while the stock trades below the SMA line.

Source: RHB Securities Research - 7 Sept 2023