Nextgreen Global is set to continue its recent rebound as it underwent a mild retracement and bounced off the immediate support last Friday – printing a candlestick with a “long lower shadow”. With that, the bulls are expected to stay above the MYR1.04 support, to climb towards the next resistance of MYR1.12, followed by MYR1.22. Conversely, falling below the MYR0.98 support will trigger selling pressure and reverse the momentum, thereby sparking a downtrend.

Source: RHB Securities Research - 14 Feb 2022