CCK Consolidated Holdings may trend upwards further, as it recently bounced off the 21-day SMA line before trying to cross the MYR0.625 resistance level yesterday, on improved volume. If the breakout happens – indicating strong buying interest – the bulls may likely follow through to drive the stock higher towards the next resistance point of MYR0.675 (the high of 17 May), then MYR0.72, ie the YTD high. However, the counter may reverse direction if it falls below the MYR0.60 support – moving downwards below the average line.

Source: RHB Securities Research - 30 Sept 2022