P.A. Resources is poised for a potential technical breakout after reclaiming the 21-day SMA line, as it heads towards the recent high of MYR0.365. A breakout above this level could drive the stock higher towards the MYR0.39 resistance, and potentially the next resistance level of MYR0.42, which is also the 2-year high. On the contrary, a breach below the MYR0.33 support level would increase the risk of a downtrend reversal.
Source: RHB Securities Research - 21 Mar 2024
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