OCK Group Bhd

• Share price has surged 34% since our last technical buy call on 5 Jan 2024.

• OCK may trend higher breaking out from its falling wedge pattern last Thursday. In view of the stock posting four consecutive white candles coupled with the 20-day and 50-day EMAs are converging and likely to confirm its bullish crossover soon, we believe the bullish momentum to persists.

• We expect the rising momentum to steer the stock higher and test the next level of resistance of RM0.65 (R1), followed by RM0.70 (R2).

• On the downside, stop-loss is set at RM0.53.
  

Source: Rakuten Research - 9 Jul 2024

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