CCK Consolidated Holdings Bhd (CCK, 7035)

• CCK shows strong bullish signals in the short and medium term. For more than 2 weeks, share pricehas stayed above the 20-day and 50-day EMAs underscoring the current bullish sentiment in the stock.

• This positive alignment of short-term and medium-term moving averages suggest that the stock isin a strong uptrend, with potential for further price appreciation. The steady volume and strong support levels indicate robust interests in the stock.

• We expect the rising momentum to steer the stock higher and test the next resistance of RM1.78 (R1)followed by RM1.85 (R2) in the near term.

• On the downside, stop-loss is set at RM1.52, below 50-day EMA.

Source: Rakuten Research - 27 Aug 2024

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