Coraza Integrated Technology is attempting to extend the bullish trajectory, testing the immediate resistance with a bullish candlestick. The stock has been charting a series of “higher low” white candlesticks, which shows the bullish momentum is increasing speed. In the event it breaks past the MYR0.575 resistance, this will attract fresh buying interest. In this case, the counter will continue to climb towards MYR0.65, followed by MYR0.74. Conversely, falling below the MYR0.50 support will dent market sentiment and kickstart a correction phase.

Source: RHB Securities Research - 2 Jan 2025