3REN is poised for a rebound after finding strong footing at the support level. The counter has printed a bullish candlestick with a long lower shadow, showing that bullish momentum is gaining traction again. Ifthe counter breaks past the MYR0.33 resistance level, we expect follow-through price action to test the MYR0.365 level, followed by MYR0.40. However, a fall below the MYR0.29 support level would invalidate this positive expectation, and resume the correction.

Source: RHB Securities Research - 31 Jan 2025