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Technical Outlook: Bullish

The technical setup for Pekat Group Berhad (0233.KL) is strong, with a clear uptrend supported by bullish indicators. The stock has broken above resistance and is trading well above its 20, 40, 50, and 150-day moving averages, signaling strong momentum. Bollinger Bands expansion suggests increased volatility, often seen in strong uptrends. The MACD is in a bullish crossover, reinforcing upward momentum. RSI at 67.14 is nearing overbought but not extreme, allowing further upside. Volume has picked up, confirming the breakout. However, risk of pullback remains if profit-taking emerges. Overall, I rate this setup as Bullish, given its strong trend and confirmation signals, though caution is needed near resistance.

Company background:

Pekat Group Berhad (0233.KL) is a Malaysia-based company specializing in solar photovoltaic (PV), earthing, and lightning protection solutions. Founded in 1999, the company provides engineering, procurement, construction, and commissioning (EPCC) services for renewable energy projects. Pekat is a key player in Malaysia’s solar energy sector, benefiting from the country's green energy push.

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My portfolio outperformed the FBMKLCI in 2024. I am ranked 17th out of 76 investors on i3, with a 25.4% return (FBMKLCI: 12.9%).

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