BERMAZ AUTO BERHAD - [BAUTO]

Price Action

• The stock price is at MYR2.51, showing a gain of +0.07 or +2.87% for the day.
  
• The recent price action indicates an uptrend, with the price rising from a recent low near MYR2.38 to its current level of MYR2.51.
  

Bollinger Bands

• Upper Band: The price is approaching the upper band, which could indicate an overbought condition.
  
• Middle Line (SMA): Price is above the middle line, indicating a bullish trend.
  
• Lower Band: The lower band remains distant from the current price action, showing support.
  

Volume

• Volume for the day is 3.005M.
  
• There is a visible increase in volume coinciding with the upward movement in price, which typically confirms the strength of the current uptrend.
  

Resistance and Support Levels

• Resistance: Immediate resistance is likely near the upper Bollinger Band, which is around the MYR2.67 level.
  
• Support: The middle Bollinger Band (SMA) around MYR2.44 acts as immediate support.
  

Overall Trend

• The stock is showing a bullish trend on the daily chart, with a potential for further upward movement. However, the proximity to the upper Bollinger Band suggests that there might be some resistance, and a pullback could be possible if the price fails to break through the resistance level.
  

Key Indicators to Watch

• Breakout or Reversal: If the price breaks above the upper Bollinger Band with strong volume, it may continue to trend higher. Conversely, if it fails to break above, a pullback to the middle Bollinger Band is possible.
  
• Volume: Continued high volume will be key to confirming any breakout.