CAB Cakaran Corporation broke out from its 3-week bullish ascending triangle pattern yesterday, implying that its previous uptrend may have resumed. With the stock posting a long white candle and closing near its 52-week high, buying momentum may be present now. A bullish bias may emerge above the RM0.72 level, with a stop-loss set at RM0.67, below the 5 May low. Towards the upside, the near-term resistance level is seen at RM0.80, followed by RM0.90.

Entry : RM0.72–0.75

Target : RM0.80, RM0.90

Exit : RM0.67

Source: AmInvest Research - 9 May 2023