KUALA LUMPUR (June 23): RHB Retail Research said Mestron Holdings Bhd is poised to resume its uptrend after it re-attempted to hit the immediate resistance of 34.5 sen on Wednesday, coupled with high trading volume.

In a trading stocks note on Thursday (June 23), the research house said if the stock pushes above that level, forming a “higher high” bullish pattern, the stock may travel towards the resistance of 36.5 sen, followed by 38.5 sen, which was the historical high printed on May 10, 2021.

“However, the stock may reverse direction if it falls below the 33 sen support, forming a 'lower low' bearish pattern below the 21-day average line,” it said.