Bermaz Auto is eyeing to rebound higher as it bounced off the immediate support in an attempt to cross the immediate resistance of MYR1.60 recently. If it manages to breach that level, a “higher high” pattern with a bullish bias will emerge. This positive momentum may then lift the stock towards the next resistance of MYR1.80, and MYR1.88. If the stock falls below the MYR1.46 support, this expectation would be cancelled.

Source: RHB Securities Research - 19 Aug 2021