CTOS Digital is poised to jump upwards as it bounced off the 21-day average line to test the consolidation level of MYR1.47 last Friday – coupled with strong volume. If a breakout happens above that level, the stock may propel further towards the MYR1.60 level, followed by MYR1.70, which was the high of 21 Feb. However, the counter may reverse direction if it falls below the MYR1.40 support, as it trades below the sideways consolidation phase and also below the average line.
Source: RHB Securities Research - 12 Sept 2022
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