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PublicInvest Research

Author: PublicInvest   |   Latest post: Tue, 22 Jun 2021, 9:57 AM

 

Technical Buy - CAELY (7154)

Author:   |    Publish date:


  • Target Price: RM0.410, RM0.445
  • Last closing price: RM0.380
  • Potential return: 7.8%, 17.1%
  • Support: RM0.370
  • Stop Loss: RM0.355

Possible for sideways breakout. CAELY is staging a potential breakout from its descending triangle chart pattern. Corresponding RSI and MACD indicators remain healthy while undergoing congestion phase, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.410 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.445.

However, failure to hold on to support level of RM0.370 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 5 May 2021

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Labels: CAELY

Related Stocks

Chart Stock Name Last Change Volume 
CAELY 0.335 0.00 (0.00%) 196,800 

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