EP Manufacturing is resuming its uptrend, eyeing towards the 52-week high level as it breached the MYR1.12 nearest resistance on improved trading volume – printing a “White Marubozu” bullish candlestick. Coupled with the “higher high” bullish pattern, the positive momentum may persist to propel it towards MYR1.31 or 52-week high, followed by the MYR1.40 threshold. This expectation will be nullified if it falls below the MYR1.01 support level, ie below the 21-day average line.

Source: RHB Securities Research - 17 Dec 2021