Pestech International is set to propel higher as it experienced a technical breakout above the MYR0.325 level, printing a “White Marubozu” bullish candlestick. Coupled with strong trading volume, the bullish momentum may drive the stock up towards the 52-week high of MYR0.365 before reclaiming the MYR0.40 mark. Towards the downside, a breach below the MYR0.275 support will negate the bullish setup, as it would be below the 21-day SMA line.

Source: RHB Securities Research - 3 Oct 2023