QES Group is staging for a strong reversal as it bounced off from below to above the 21-day SMA line yesterday – supported by a “Double Bottom” reversal pattern from its recent consolidation. If it manages to sustain above the immediate support level of MYR0.835, the positive momentum will continue towards the next hurdle at MYR0.90, followed by the historical high of MYR0.975. Meanwhile, if it cuts below the MYR0.80 support, this expectation will be nullified.

Source: RHB Securities Research - 4 Aug 2021