AME Elite Consortium is poised for an uptrend rebound after rebounding above the 21-day SMA line on surging volulme – it is now eyeing to test the MYR1.80 immediate resistance. If a breakout above that level happens – forming a “higher high” bullish pattern – the stock may trend higher towards the 52-week high at MYR1.90, followed by the MYR2 mark. However, a fall below MYR1.65 invalidates the bullish bias.
Source: RHB Securities Research - 27 Mar 2024
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Created by rhbinvest | Dec 18, 2024