• Target Price RM0.280, RM0.310
• Last closing price: RM0.260
• Potential return: 7.6%, 19.2%
• Support: RM0.245
• Stop Loss: RM0.220

Possible for sideways breakout. CAB-WB is potentially staging a breakout from its sideways channel, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.280 be genuinely broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.310. Note that the maturity date of CAB-WB is on 31 May 2028.

However, failure to hold on to support level of RM0.245 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 11 Jan 2024