P.A. Resources is set to continue its uptrend reversal after breaching above the MYR0.295 immediate resistance, backed by surging trading volume. If the breakout sustains, the stock should climb higher towards the MYR0.32 immediate resistance, and then the MYR0.35 next resistance. However, falling below the MYR0.265 support – forming a “lower low” bearish pattern – may trigger a downtrend.
Source: RHB Securities Research - 12 Jan 2024
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