Wong Engineering Corporation is in the process of an uptrend rebound, after it bounced upwards to hit the immediate resistance of MYR0.725 yesterday – eyeing to reclaim its recent high. If it surpasses that level – printing a “higher high” bullish pattern, the bulls are expected to drive the stock towards the higher resistance of MYR0.82, followed by MYR0.875. Conversely, falling below the MYR0.67 support will trigger selling pressure and reverse the momentum, as it forms a “lower low” bearish pattern.

Source: RHB Securities Research - 16 Feb 2022