Careplus Group is set for an uptrend reversal after rebounding above the 21-day SMA line while surpassing the MYR0.315 immediate resistance on Friday on stronger trading volume. If the breakout above that level sustains, the positive momentum will drive the stock higher towards the MYR0.35 resistance or 16 Feb’s high. This is followed by the MYR0.385 next resistance, ie 29 Jan’s high. On the flip side, falling below the MYR0.29 support negates the bullish setup.

Source: RHB Securities Research - 13 May 2024