Careplus Group is in the midst of resuming its uptrend from the recent pullback as it rebounded and consolidated above the rising 21-day SMA line recently, with an eye towards the MYR0.455 immediate resistance. If a breakout above that level happens, the stock may climb higher towards the recent high of MYR0.51, followed by the next resistance at MYR0.55, or the 2- year high. However, if it falls below the MYR0.41 support – forming a lower low – this expectation will be cancelled..

Source: RHB Securities Research - 9 Jan 2024