Rakuten Trade Research Reports

Technical View - Able Global Bhd

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Publish date: Wed, 27 Dec 2023, 09:13 AM
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Able Global Bhd (ABLEGLOB, 7167)

  • ABLEGLOB may extend it upward trajectory after it broke out from the 1-month rectangular patternyesterday. The stock is pulling further away from all the EMAs, couple with three consecutive white candles, indicating the bullish momentum is picking up further.
  • We expect the rising momentum is set to steer the stock higher and test the next level of resistanceof RM1.60 (R1) followed by RM1.65 (R2) in the near term.
  • On the downside, stop-loss is set at RM1.35, below the 6 Dec’s low.

Source: Rakuten Research - 27 Dec 2023

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