• CSCSTEL closed 4.4% higher at RM1.42 yesterday.
• After stuck in a consolidation phase from 28 June to 25 Aug, CSCSTEL broke out above its resistance of RM1.41 with relatively higher buying volume. Chart-wise, share price is trading above all its key moving average line for the first day indicating change of trend from consolidation to uptrend.
• Hence, resistance levels are identified at RM1.46 (R1) and RM1.53 (R2).
• On the contrary, support levels are pegged at RM1.32 (S1) and RM1.29 (S2).
Source: Rakuten Research - 27 Aug 2021
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