Cengild Medical is eyeing a technical breakout after it bounced from the recent pullback yesterday, heading towards MYR0.41, ie 21 Jun’s high. If a breakout occurs above that level, the bulls may propel the stock towards the MYR0.43 resistance or 2 Jun’s high. This is followed by MYR0.455, which was 12 May’s high. If it falls below the support level of MYR0.38, the stock may trend downwards below the average line.

Source: RHB Securities Research - 30 Jun 2022