AYS Ventures is set for an uptrend reversal, as it bounced off the 21-day SMA line, breaching above the MYR0.395 resistance to form a “Bullish Marubozu” candlestick. Coupled with stronger trading volume, the stock is expected to rebound higher towards the MYR0.44 resistance, followed by the next resistance at MYR0.48. A fall below the MYR0.375 support would negate the bullish setup.
Source: RHB Securities Research - 24 Nov 2023
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