CPE Technology Bhd

• CPETECH may trend higher after breaking out from a 6-week downward channel a few sessions ago. In view of the stock posting three consecutive white candles coupled with its EMAs and RSI indicators pointing upwards, these indicate that the bullish momentum appears to be picking up.

• We expect the rising momentum to steer the stock to trend higher and test the next level of resistance of RM1.52 (R1), followed by RM1.65 (R2).

• On the downside, stop-loss is set at RM1.25.
  

Source: Rakuten Research - 5 Jul 2024

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