CAB Cakaran Corporation may rise higher after it formed a long white candle and pushed above the RM0.635 resistance 2 sessions ago. As the stock also surged to a fresh multi-year high and coupled with its rising EMAs, likely suggesting that bullish momentum is picking up. A bullish bias may emerge above the RM0.635 level, with a stop-loss set at RM0.58, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM0.72, followed by RM0.80.

Entry : RM0.635–0.66

Target : RM0.72, RM0.80

Exit : RM0.58

Source: AmInvest Research - 21 Mar 2023