NCT Alliance may have found its footing in the latest sessions as it printed a “Hammer” bullish reversal candlestick – bouncing off its support. Bullish momentum is expected to emerge if it manages to cross above the immediate resistance of MYR0.47 – forming a “higher high” bullish pattern. If that happens, the next resistance level is at MYR0.515, followed by MYR0.53. Conversely, falling below the MYR0.44 support will cancel this expectation.

Source: RHB Securities Research - 6 Dec 2021