Bermaz Auto fell into an oversold level, and may undergo a technical rebound soon. Notice that trading volume spiked up during latest session, indicating a strong buying interest near oversold level. If it trades above MYR1.16 resistance level, we thinks it will moves higher to test the next resistance level of MYR1.20, followed by MYR1.25. A downside breach of the MYR1.13 support level would nullify this expectation and the stock will see further price correction.

Source: RHB Securities Research - 23 Oct 2020