PA Resources is poised to reverse upwards following a recent retracement, as it bounced towards the immediate resistance of MYR0.42 – coupled with improved volume. If it breaches above that level – forming a “higher high” bullish pattern, the bulls may continue towards the MYR0.45 resistance, followed by MYR0.48 or Oct 2021’s high. However, the momentum may lose steam if it falls below the MYR0.38 support, as it may form a “lower low” bearish pattern.

Source: RHB Securities Research - 8 Feb 2022