Able Global Bhd (ABLEGLOB, 7167)

• ABLEGLOB may extend it upward trajectory after it broke out from the 1-month rectangular patternyesterday. The stock is pulling further away from all the EMAs, couple with three consecutive white candles, indicating the bullish momentum is picking up further.

• We expect the rising momentum is set to steer the stock higher and test the next level of resistanceof RM1.60 (R1) followed by RM1.65 (R2) in the near term.

• On the downside, stop-loss is set at RM1.35, below the 6 Dec’s low.

Source: Rakuten Research - 27 Dec 2023

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