Pekat Group is poised to move away from the consolidation phase after it attempted to breach the immediate resistance of MYR0.80 yesterday – supported by strong volume while maintaining its “higher low” structure. If the momentum is renewed above that level, the bulls should drive the stock towards the threshold of MYR0.865, before possibly hitting the MYR0.905 level. That said, this expectation will be cancelled if it falls below the support of MYR0.765 – forming a “lower low” formation.

Source: RHB Securities Research - 14 Oct 2021