CAB Cakaran Corporation Bhd (CAB, 7147)

• CAB ended 3.2% or 1.5 sen higher to RM0.475 yesterday.

• Since touching a high of RM0.565 in end Dec 2020, share price had pull back to a low of RM0.405. However, recent price action suggests the re-emergence of buying interest with a breakout at RM0.445 along with higher trading volume. Short and mid-term moving average lines are turning upward sloping, with such signals, buying force is likely to persist.

• Resistance levels are at RM0.505 (R1) and further to RM0.53 (R2).

• For downside support, support levels are at RM0.445 (S1) and next at RM0.43 (S2).

Source: Rakuten Research - 18 May 2021