CB Industrial Product surged to a new multi-year high with a long white candle yesterday, which likely indicates the return of buying momentum. Given that this candle has broken out from the 3-week bullish rectangle pattern, coupled with its rising EMAs, the resumption of its previous uptrend may be taking place now. A bullish bias may emerge above the RM1.45 level, with a stoploss set at RM1.36, below the 20-day EMA. On the upside, the near-term resistance level is seen at RM1.65, followed by RM1.70.
Entry : RM1.45–1.50
Target : RM1.65, 1.70
Exit : RM1.36
Source: AmInvest Research - 4 Mar 2022
Chart | Stock Name | Last | Change | Volume |
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Created by AmInvest | Jul 26, 2024
Created by AmInvest | Jul 26, 2024
Created by AmInvest | Jul 26, 2024