Adventa is staging for a reversal after bouncing off its support level from a major pullback yesterday. Premised on strong volume, this shows that buying interest has emerged near the support level and may form a “double bottom” if it reverses. If the stock manages to cross above the MYR1.98 immediate resistance level, the bullish momentum may lift it towards the MYR2.31 and MYR2.50 resistance levels. Meanwhile, breaching below the MYR1.70 support level may cancel this expectation.

Source: RHB Securities Research - 3 Jun 2021