NCT Alliance may be headed for a rebound above the consolidation phase of MYR0.515, as it touched that level on improved trading volume yesterday – printing a “higher low” bullish pattern. If it breaches above that level, the positive momentum may bring it closer to the resistance levels of MYR0.56, followed by MYR0.585– its 5-month high. This expectation will be nullified if it falls below the MYR0.48 support level – as it forms a “lower low” bearish structure.

Source: RHB Securities Research - 30 Dec 2021