Cnergenz is attempting to stage a technical rebound as it is oversold now. Note that the trading volume has been tapering recently, which suggests that the selling pressure is easing. In the event that it jumps above the MYR0.47 resistance, a bullish bias will emerge. The ensuing follow-through momentum should then lift it towards MYR0.495, followed by MYR0.52. On the other hand, falling below the support point of MYR0.435 would mean that the bears are still in control, and the stock should undergo a further correction.

Source: RHB Securities Research - 14 Jul 2022