CCK Consolidated may trend higher after it posted another white candle and hit a new 52-week high yesterday. The stock’s move above the RM0.85 resistance coupled with rising EMAs indicates that near term bullish momentum may persist. A bullish bias may emerge above the RM0.85 level, with stop-loss set at RM0.79, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM0.95, followed by RM1.00.
Entry : RM0.85–0.875
Target : RM0.95, RM1.00
Exit : RM0.79
Source: AmInvest Research - 10 Jan 2024
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