Solar District Cooling Group Berhad (SDCG, 0321)

• SDCG posted two consecutive white candlesticks following a breakout from a bullish flag pattern.Since listing, the stock has been trending upward steadily and consistently closing above the 20-day EMA. We expect this strength to persist in the near term, supported by a sustained high RSI.

• We anticipate the stock to test the initial resistance at RM0.56 (R1), with RM0.60 (R2) as the nexttarget.

• On the downside, stop-loss is set at RM0.47.

Source: Rakuten Research - 22 Nov 2024

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