CCK Consolidated broke out from a 4-week bullish rectangle pattern on Friday, implying that its previous uptrend may have resumed. The stock’s move above the RM1.80 resistance also coincides with a new historical high, indicating that a bullish outlook can be anticipated here. A bullish bias may emerge above the RM1.80 level with stop-loss set at RM1.68, below the 20- day EMA. Towards the upside, near-term resistance level is seen at RM2.00, followed by RM2.10.

Entry : RM1.80–1.86

Target : RM2.00, RM2.10

Exit : RM1.68

Source: AmInvest Research - 9 Sept 2024