Reach Energy may rebound higher after it continued holding above the MYR0.40 support. Yesterday’s candle sent the stock to its 1-week high, thereby enhancing the bullish sentiment. A bullish bias may appear above the MYR0.435 level, with an exit set below the MYR0.40 threshold. Towards the upside, the near-term resistance is at MYR0.51. This is followed by the MYR0.54 level.

Source: RHB Securities Research - 18 Oct 2018