Cnergenz is looking to extend its technical rebound after breaking past the resistance on strong volume. We observed that the stock has surged above the MYR0.665 resistance, charting a bullish candlestick. Meanwhile, trading volume has been increasing, showing that strong momentum is underway. The stock may set its sights on the next resistance pegged at MYR0.73, followed by MYR0.77. On the other hand, a fall below the MYR0.615 support would negate the bullish setup.

Source: RHB Securities Research - 8 Nov 2023