Capital A Bhd (CAPITALA, 5099)

• CAPITALA has broken out of its 1-week bullish flag pattern with another positive white candleyesterday, implying that the prior uptrend is likely to continue. In view of the recent golden cross, coupled with steady trading volume since the breakout in mid-September, this further reinforces the upward strength in the near term.

• We expect the positive momentum to steer the stock higher and test the next resistance at RM1.02(R1) followed by RM1.07 (R2) in the near term.

• On the downside, stop-loss is set at RM0.81.
  

Source: Rakuten Research - 10 Oct 2024

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