Senheng New Retail is eyeing a rebound above the consolidation phase, as it bounced upwards towards the immediate resistance of MYR0.855 yesterday – coupled with high trading volume. If it moves past that level, the bulls may continue to climb towards the higher resistance of MYR0.92, followed by the MYR1.04 mark – its highest level. However, the momentum may lose steam if it falls below the MYR0.80 support – forming a “lower low” bearish pattern.

Source: RHB Securities Research - 15 Feb 2022