Ramssol Group Berhad (RAMSSOL, 0236)

• RAMSSOL has demonstrated strong performance since the bullish crossover in mid-October. Though the stock is currently in a consolidation phase, it seems poised for a breakout above its key resistance level at RM0.775, supported by the recent long white candlestick and Doji formation. Additionally, the share price has closed above the EMAs, further reinforcing the strength of the prevailing uptrend.

• Thus, we expect the rising momentum to steer the stock higher and test the next resistance at RM0.815 (R1) followed by RM0.875 (R2) in the near term.

• On the downside, stop-loss is set at RM0.685.

Source: Rakuten Research - 20 Jan 2025

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