PECCA Group Bhd

• PECCA may extend its upward trajectory after breaking above the key resistance at RM1.32 yesterday. In view of the stock posting two consecutive white candlesticks, coupled with the upturn of the 20-day EMA, further suggests strengthening of its bullish momentum.

• We anticipate the rising momentum to drive the stock higher with the next resistance levels at RM1.39 (R1) followed by RM1.47 (R2) in the near term.

• On the downside, stop-loss is set at RM1.27.

Source: Rakuten Research - 21 Nov 2024

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