Bermaz Auto may move higher after it continued holding above the MYR1.80 support. As the stock has formed a “Bullish Engulfing” pattern on 30 Oct, this indicates a potential rebound. A bullish bias may emerge above the MYR1.80 level, with an exit set below the MYR1.80 threshold. Towards the upside, the immediate resistance is at MYR2.00. This is followed by the MYR2.08 level.

Source: RHB Securities Research - 31 Oct 2018