Panda Eco System is set to trend upwards after bouncing off the recent breakout level of MYR0.27 on strong trading volume yesterday – firming up its “higher high” bullish structure above the 21-day SMA line. The bullish momentum may persist and could drive the stock higher towards the all-time high of MYR0.30, before entering uncharted territory and testing the MYR0.40 mark. However, a fall below MYR0.24 would invalidate the bullish bias.

Source: RHB Securities Research - 26 Mar 2024