Ucrest is poised for a strong rebound after it crossed above the immediate resistance level on strong volume yesterday. As the stock has managed to stay above its 21-day SMA line, the bullish bias may remain above the MYR0.405 resistance-turned-support level. The bullish momentum may propel it further towards the next resistance levels of MYR0.46 and MYR0.50. Meanwhile, breaching below the MYR0.375 support level may invalidate this expectation.

Source: RHB Securities Research - 31 May 2021