Greatech Technology is poised for a reversal after it crossed the immediate resistance level marking a “higher high” pattern yesterday. As the stock managed to cross over the 21-day SMA line, the bullish bias may remain above its MYR5.50 resistance turned-support level. The positive momentum may propel it further towards the next resistance levels of MYR5.81 and MYR6.00. Meanwhile, breaching below the MYR5.15 support level may cancel this expectation.

Source: RHB Securities Research - 1 Jun 2021