Lay Hong is set to trend higher after rebounding above the 21- day SMA line – recently surpassing the MYR0.41 immediate resistance with strong volume. Sustained bullish momentum above this level should propel the stock towards the MYR0.445 recent high, followed by the MYR0.50 next resistance. However, a fall below the MYR0.38 support increases the risk of a reversal towards a downtrend, particularly if it falls below the SMA line.

Source: RHB Securities Research - 4 Apr 2024