4 August 2021

Joseph Chai
TEL
EMAIL
: +6(03) 9280 8870
: joseph.chai@rhbgroup.com
Trading Stocks

QES Group Eversafe Rubber

+

Resistance: Resistance:
MYR0.975 MYR0.435

Resistance:
MYR0.90 Support:
MYR0.395
Support:
55
MYR0.835
Support: Support:
MYR0.80 MYR0.36

55

21-day SMA line

21-day SMA line

Source: RHB, Bloomberg Source: RHB, Bloomberg

QES Group is staging for a strong reversal as it bounced off from Eversafe Rubber formed a white “Marubozu” candle to cross
below to above the 21-day SMA line yesterday – supported by a above the MYR0.395 resistance mark after bouncing off from
“Double Bottom” reversal pattern from its recent consolidation. If the recent pullback. A positive momentum has emerged above
it manages to sustain above the immediate support level of this level to propel the stock towards the historical high of
MYR0.835, the positive momentum will continue towards the next MYR0.435 before printing a new “higher high” at MYR0.50.
hurdle at MYR0.90, followed by the historical high of MYR0.975. Meanwhile, breaking below the MYR0.36 support will cancel
Meanwhile, if it cuts below the MYR0.80 support, this expectation this expectation.
will be nullified.

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 4 August 2021

Pelikan Int. Corporation JF Technology

+

Resistance:
MYR0.55 Resistance:
MYR1.50
Resistance:
MYR0.51

Support:
MYR1.42

Support:
MYR0.425 Support:
MYR1.37
Resistance:
MYR0.41

21-day SMA line

21-day SMA line

Source: RHB, Bloomberg Source: RHB, Bloomberg

Pelikan Int. Corporation is poised to travel higher after it JF Technology is eyeing to move away from its consolidation
bounced off from below to above the 21-day SMA line, phase after it bounced off from below to above the 21-SMA
breaching its immediate resistance of MYR0.425 on strong line while breaking above the immediate resistance of
trading volume yesterday. With the latest long white candle or MYR1.42. Supported by a “higher low” base, the bullish bias
“Bullish Engulfing” pattern, the bullish momentum is picking up above that level would spur the momentum to lead the stock
pace above the immediate support level to boost the stock towards the next hurdle of MYR1.50, followed by the MYR1.60
towards the next resistance at MYR0.51, followed by resistance level. On the other hand, falling below the MYR1.37
MYR0.55 (its multi-month high). However, if the stock falls support may see the stock moving downwards.
below the MYR0.41 support, this momentum may reverse.

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See important disclosures at the end of this report
 4 August 2021

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