Catcha Digital Berhad (CATCHA, 0173)

• CATCHA’s buying interest is back after breaking out from its pennant pattern with a long whitecandle few sessions ago. In view of the stock posting three consecutive white candles coupled with the 20-day EMA pointing upwards, further suggests that the bullish momentum is picking up.

• We expect the rising momentum to steer the stock higher and test the next resistance of RM0.50(R1) and RM0.54 (R2) in the near term.

• On the downside, stop-loss is set at RM0.40, below 15 July’s low.
  

Source: Rakuten Research - 22 Jul 2024

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