Reservoir Link Energy is set for an uptrend reversal after rebounding above the 21-day SMA line and surpassing the MYR0.325 immediate resistance with strong volume yesterday. Sustained bullish sentiment above this level is anticipated to lift the stock towards the recent high of MYR0.34, followed by the next resistance at MYR0.355. However, a fall below the MYR0.31 support level would increase the risk of a reversal towards a downtrend, particularly if it falls below the SMA line.

Source: RHB Securities Research - 3 Apr 2024