SMTrack is poised to reclaim its recent high, as it bounced off the 21-day average line recently while hitting the immediate resistance of MYR0.24 – forming a “higher low” bullish structure. If it manages to surpass that level, the stock is likely to reclaim the recent high of MYR0.27, before possibly hitting the MYR0.31 resistance ie its 52-week high. Conversely, falling below the MYR0.195 support will trigger selling pressure and reverse the momentum, ie the 21-day SMA line.

Source: RHB Securities Research - 1 Mar 2022