Gabungan AQRS is poised for a technical breakout as it bounced off the 21-day average line while eyeing the MYR0.30 level yesterday – firming up its “higher low” bullish structure. Coupled with the increasing 30-day average volume recently, the bullish momentum is expected to accelerate if it manages to surpass above the breakout level. The next resistance is seen at MYR0.325, or 13 Sep’s high, followed by MYR0.345, ie 9 Aug 2022’s high. Conversely, the counter may reverse its direction if it falls below the MYR0.28 support, forming a “lower low” bearish structure below the average line.
Source: RHB Securities Research - 15 Feb 2023