ES Ceramics Technology may resume its upward movement after it bounced off near its support to retest the immediate resistance yesterday. A positive bias may emerge above the immediate resistance of MYR0.87 after it had formed a “higher low” bullish pattern recently. If a breakout happens, the stock may travel towards the next resistance level at MYR0.90, followed by MYR0.94. Meanwhile, falling below the MYR0.82 support level will reverse this expectation.

Source: RHB Securities Research - 4 May 2021