CAB Cakaran has jumped with a higher trading volume, and we believe the uptrend may extend higher. The stock has been rising in tandem with the increasing volume, showing that buying interest is building up. A successful breakout from the resistance marked at MYR0.53 will see the stock scaling higher to test the next hurdle at MYR0.57 – this is followed by MYR0.62. A downside breach of the MYR0.48 support will negate this expectation, and should result in a stock price correction.

Source: RHB Securities Research - 28 Dec 2020