CTOS Digital is eyeing to extend the upside movement after testing the immediate resistance. The stock has charted a series of “higher highs” with “higher lows”, showing that the bullish momentum is strong. The 21-day SMA line is now pointing upwards, echoing that the short-term trend is bullish. In the event the counter breaks past the MYR1.50 resistance, it will climb towards MYR1.57, followed by the MYR1.65 level. On the downside, falling below the MYR1.40 support kicks off the correction phase.

Source: RHB Securities Research - 26 Jun 2024