Edelteq Holdings is set for an uptrend rebound as it pushed past the MYR0.365 level yesterday on strong trading volume. This, coupled with the price being above the ascending 21-day SMA line, may indicate a persistent bullish momentum as the stocks heads towards the MYR0.40 resistance, followed by MYR0.43. On the flip side, falling below the MYR0.34 would nullify the bullish bias.
Source: RHB Securities Research - 19 Mar 2024
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