Master Tec Group is poised to resume its upward trajectory after rebounding from the 21-day SMA line yesterday – it recaptured the MYR1 level following a recent pullback. Sustained bullish sentiment above this level is anticipated to propel the stock towards its previous all-time high of MYR1.19, with potential further gains into the uncharted territory near MYR1.50. However, a fall below the MYR0.885 support level would increase the risk of a reversal towards a downtrend, particularly if it falls below the SMA line.

Source: RHB Securities Research - 2 Apr 2024