SDS Group Bhd (SDS, 0212)

• SDS may trend higher after it surged to an all-time high to break out from its three-month ascendingtriangle pattern. In view of the long white marubozu candlestick, coupled with its RSI indicator pointing upwards, the bullish momentum appears to be picking up.

• We expect the rising momentum to steer the stock to trend higher and test the next resistance ofRM1.05 (R1), followed by RM1.15 (R2).

• On the downside, stop-loss is set at RM0.86.
  

Source: Rakuten Research - 7 Aug 2024

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