Eonmetall Group is eyeing to resume its strong uptrend from the recent pullback as it bounced off its immediate support, heading towards the immediate resistance of MYR0.595 – printing a “White Marubozu” bullish candlestick yesterday. If a breakout happens above that level, the renewed bullish momentum may propel the stock towards the MYR0.65 next resistance based on 12 Oct 2021’s high, followed by MYR0.71, or 24 May’s high. However, the stock may reverse direction if it falls below the MYR0.52 support – forming a “lower low” bearish pattern.

Source: RHB Securities Research - 7 Jul 2022