Greatech Technology is poised for a technical breakout after it attempted to breach the immediate resistance of MYR7.26 yesterday – it bounced off the 21-day SMA line. If a breakout happens above that level, buying pressure may re-emerge to drive the stock towards the MYR7.60 historical high, before printing a new high of MYR8.00. However, falling below the MYR6.87 support may trigger a downtrend, and push the stock below the average line.

Source: RHB Securities Research - 23 Sept 2021