CTOS Digital is set to propel towards the 5-month high after it underwent a breakout above the MYR1.46 resistance-turnedsupport yesterday – forming a “higher high” bullish pattern. Coupled with the “Bullish Marubozu” candlestick printed yesterday, the stock is prepared to climb towards MYR1.58, or 25 Apr’s high, before hitting April’s high of MYR1.63, ie the next resistance level. If it falls below the MYR1.40 support, the momentum may reverse direction as it forms a “lower low” bearish pattern and keens towards the 21-day average line.

Source: RHB Securities Research - 12 Aug 2022