Yesterday, AWC gained 2.0 sen (+2.48%) to close at RM0.825 on the back of stronger than the 20-day average.
The share has been trending upwards after it bottomed-out in June with MACD continuously in bullish convergence, possibly signal an uptrend continuation.
Notably, momentum indicators appear in supportive for the next move higher, as displayed by a bullish MACD-crossover coupled with rising RSI to suggest a return of buying interest.
Should buying momentum be sustained, expect the share to advance towards RM0.885 (R1) before trending higher towards RM0.950 (R2).
Meanwhile, immediate downside support is identified at RM0.800 (S1) with the next support level found at RM0.735 (S2).
CJCEN (Not Rated)
CJCEN gained 4.5 sen (+6.47%) to close at RM0.740 yesterday, backed by explosive trading volume with 2.6m share exchanging hands 10-fold its 20-day average.
Yesterday’s move also marked a breakout from the prior key resistance level of RM0.700 which it tested multiple times previously potentially to signal a recovery.
Should a follow-through buying continue, expect CJCEN to climb towards next resistance level of RM0.800 (R1), with a decisive takedown will see the share on a higher note towards RM0.920 (R2) further up.
Conversely, support levels are seen at resistance-turned-support RM0.700 (S1) with the next support level identified at RM0.600 (S2).
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