Cepatwawasan Group is poised to propel towards the mutliyear high as it bounced off the 21-day average line while hitting the MYR1.22 immediate resistance yesterday – supported by strong volume. If a breakout happens above that level, the uptrend is expected to persist towards the multi-year high level at MYR1.30, followed by the MYR1.40 level. Conversely, the stock may reverse direction if it falls below the MYR1.10 support, as it forms a “lower low” bearish structure below the 21-day average line.

Source: RHB Securities Research - 29 Apr 2022