CEKD climbed and touched the RM0.93 resistance level. With its 7-day moving average pointing upward, coupled with a higher trading volume, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM0.975, followed by RM1.03. The downside support is marked at RM0.85. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.93

Target: RM0.975, RM1.03 (time frame: 2-4 weeks)

Exit: RM0.85
 

Source: AmInvest Research - 11 Nov 2021