Tong Herr Resources’ uptrend is considered intact as it still remains above the uptrend line drawn in the chart. Yesterday’s white candle can be viewed as a continuation of the bulls extending the rebound from 11 Oct’s “Hammer” pattern. A bullish bias may emerge above the MYR4.05 level, with an exit set below the MYR3.93 threshold. Towards the upside, the immediate resistance is at MYR4.28. This is followed by the MYR4.50 level.

Source: RHB Securities Research - 24 Oct 2018