CEKD is eyeing an uptrend rebound as it inched higher, attempting to surpass the MYR0.615 immediate resistance last Friday – above the 21-day average line. If it manages to break through above that level – forming a “higher high” bullish pattern – the stock may persist towards MYR0.645, followed by MYR0.68. However, the stock may move in a downtrend if it falls below the MYR0.585 support to form a “lower low” bearish pattern – reclaiming below the average line.

Source: RHB Securities Research - 30 May 2022