Cnergenz may extend its uptrend after breaking past the immediate resistance. Since climbing above the 21-day SMA line, the stock has been charting a series of “higher highs” with “higher lows”, showing that strong momentum is underway. If the stock stays above the breakout point of MYR0.95, it should travel towards the next resistance of MYR1 and followed by MYR1.10. Conversely, if it falls below the support level of MYR0.88, the bullish setup will be invalidated.

Source: RHB Securities Research - 30 Jan 2023