CTOS Digital is staging a counter-trend rebound after breaking past the resistance on strong volume. We observed the stock managing to climb above the MYR1.32 resistance on the back of high volume. The latest price action now confirms a bullish setup. Hence, we expect a follow-through price action to test the next resistance at MYR1.40, followed by the MYR1.50 level. Meanwhile, falling below the MYR1.25 support resumes the downwards movement.

Source: RHB Securities Research - 18 Mar 2024