SFP Tech Holdings is poised for an uptrend reversal, as it bounced off the 21-day SMA line and tested the strong resistance point of MYR1.02 yesterday as trading volume surged. Pending a breakout above that level, the stock may propel higher towards the MYR1.10 mark, before possibly testing the all-time-high of MYR1.19. On the other hand, falling below the MYR0.93 support will negate the bullish setup.
Source: RHB Securities Research - 13 Dec 2023
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