Critical Holdings Bhd (CHB, 0291)
- We believe CHB may extend it upward trajectory after breaking out from a 2-week rectangularpattern a few sessions ago, surpassing the previous resistance of RM0.94 further supported by a bullish engulfing candlestick. The 20-day and 50-day EMAs converged yesterday, confirming a bullish crossover. This, along with the significantly higher trading volume, which indicates a potential shift in market sentiment toward the upside.
- We expect the rising momentum to steer the stock higher and test the next resistance at RM1.05 (R1)followed by RM1.17 (R2) in the near term.
- On the downside, stop-loss is set at RM0.87.
Source: Rakuten Research - 1 Oct 2024
To sign up for an account: http://bit.ly/40BNqKI
[Youtube Tutorial] Account Opening & Enable Foreign Equity: http://bit.ly/3I5Jzxo