• CEPAT closed 0.7% lower at RM0.675 on Thursday.

• There was a formation of healthy pullback with low volume after the volume spike on 13 August. Recently, CEPAT has closed near its support and stayed above all its key moving average (MA). As the MA 20 is also expected to cross above the MA 200, there is a high possibility for the stock to trade above all the key MA indicating continuous uptrend.

• Hence, resistance levels are identified at RM0.695 (R1) and RM0.720 (R2).

• On the contrary, support levels are pegged at RM0.670 (S1) and RM0.660 (S2).

Source: Rakuten Research - 3 Sept 2021