Autocount Dotcom Berhad

• ADB gapped up yesterday, breaking above its previous resistance of RM1.10 with a full white Marubozu candlestick. In view of YTD performance, the stock underwent a correction in early-Aug but is showing signs of a potential trend reversal, supported by a bullish crossover.

• We expect the rising momentum to steer the stock higher and test the next resistance at RM1.22 (R1) followed by RM1.32 (R2) in the near term.

• On the downside, stop-loss is set at RM0.92.

Source: Rakuten Research - 13 Dec 2024

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