PIE Industrials rebounded on higher trading volume. The stock climbed above the 21-day SMA line, indicating a possible resumption of the uptrend. If the stock breaches the immediate resistance level at MYR2.15, we expect the positive momentum to drive it towards the next resistance level pegged at MYR2.23, followed by MYR2.33. A downside breach of the MYR2.00 support level would nullify this expectation and see further share price correction

Source: RHB Securities Research - 28 Dec 2020