CAB Cakaran’s upside move may persist after it continued holding above the rising 21-day SMA line. Last Friday’s long white candle can be viewed as a continuation of the bulls extending the buying momentum from 12 Feb’s upside gap. A bullish bias may emerge above the MYR0.60 level, with an exit set below the MYR0.57 threshold. Towards the upside, the immediate resistance is at MYR0.68. This is followed by the MYR0.73 level.

Source: RHB Securities Research - 4 Mar 2019