Teo Seng Capital is poised to propel higher as it rebounded from a recent pullback, heading towards the latest high of MYR0.82 – crossing above the 21-day average line. If it manages to surpass that level, the bullish bias is expected to emerge, bringing the stock higher towards the MYR0.86 resistance level. This is followed by MYR0.955, which was the highest level since Dec 2020. Conversely, falling below the MYR0.765 support will trigger selling pressure and reverse the momentum, thereby sparking a downtrend.

Source: RHB Securities Research - 3 Feb 2022