Sedania Innovator is initiating an uptrend reversal after rebounding strongly above the immediate resistance of MYR0.24, banking on strong trading volume. Coupled with the “higher high” bullish pattern, the positive momentum should lift the stock towards the next resistance of MYR0.28 before reaching the next resistance of MYR0.315. However, falling below the MYR0.21 support – forming a “lower low” bearish pattern – may spark a downtrend.

Source: RHB Securities Research - 5 Jan 2024