Coraza Integrated Technology is set to rebound stronger, firming up its the uptrend reversal pattern after it broke above the MYR0.71 immediate resistance yesterday – forming a “higher high” bullish structure with improved trading volume. If it manages to stay above that level, the bullish bias would drive the stock further towards the MYR0.765 next resistance, followed by the MYR0.87 resistance. Conversely, the stock may reverse direction if it falls below the MYR0.655 support, forming a “lower low” bearish structure, beneath the 21-day average line.

Source: RHB Securities Research - 1 Dec 2022