Ann Joo Resources is eyeing to test the immediate resistance level after trading volume increased recently. The bullish bias is expected to emerge if it manages to breach above MYR2.38 – the nearest resistance level. If that happens, the bullish momentum will lift the stock towards the next resistance set at MYR2.59, and then MYR2.77, the multi-month high. Whereas, if the stock falls below the MYR2.18 support, this expectation will be voided.

Source: RHB Securities Research - 28 Jul 2021