CCK Consolidated Holdings Bhd (CCK, 7035)

• Share price closed 2.14% higher at RM0.715 on Monday.

• CCK has been in a consolidation mode since reaching its YTD peak at RM0.795 in January. Highbuying momentum was seen in past 2 trading days as it broke out from its resistance level of RM0.705 yesterday. Coupled with bullish MACD crossover and indicators showing uptick momentum, share price is expected to propel higher.

• Resistance levels are identified at RM0.715 (R1) and RM0.73 (R2).

• On the flipside, support levels are pegged at RM0.69 (S1) and RM0.68 (S2).

Source: Rakuten Research - 11 Jul 2023

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