Careplus Group Bhd (CAREPLS, 0163)

• Share price closed 0.57% higher at RM1.10.

• CAREPLS has broken above the descending wedge pattern and its MA 20 with emerging volume recently. We also see a MACD golden cross in MACD indicator.

• Backed by upticks in its indicators and last hour buying interest, we expect a reversal from downtrend to happen and the share price is poised to move up towards MA 50 or more.

• Resistance levels are identified at RM1.16 (R1) and RM1.37 (R2).

• On the flipside, support levels are pegged at RM1.01 (S1) and RM0.83 (S2).

Source: Rakuten Research - 18 Nov 2021