Crescendo Corporation Berhad
- CRESNDO broke out of its rectangle pattern with two white candlesticks. A recent bullish convergence signals a trend reversal after correcting from the uptrend. The rising volume and strengthening RSI further indicate the potential for continued upside.
- We expect the rising momentum to steer the stock higher and test the next resistance at RM1.65 (R1) followed by RM1.75 (R2) in the near term.
- On the downside, stop-loss is set at RM1.37.
Source: Rakuten Research - 18 Dec 2024
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