Censof Holdings may due for a technical rebound after the recent pullback came close to the immediate support. Notice the trading volume is tapering – this indicates the selling pressure is subsiding while the stock about to test the resistance-turned-support level of MYR0.39. If it bounces from this level, expect the positive momentum to lift the stock towards the next resistance level of MYR0.46, followed by MYR0.50. However, this expectation would fade away if it drops below the MYR0.37 support level.

Source: RHB Securities Research - 28 Apr 2021