Niche Capital Emas is expected to bounce off from its sideways consolidation phase, as it attempted to break above the immediate resistance on strong volume recently. If it manages to break above the MYR0.24 immediate resistance level, a “higher low” price pattern will appear – indicating an upward movement. If that happens, the stock may climb towards the next resistance of MYR0.26, then MYR0.275. If it falls below the MYR0.225 support, the stock may change its direction.

Source: RHB Securities Research - 31 May 2021