CTOS Digital is set to move higher as it bounced off its 21-day SMA line and broke the immediate resistance on high trading volume recently. Though it formed a “Doji” neutral candle yesterday, the bullish bias that emerged above the MYR1.61 recent breakout level may likely see a continuation of this momentum to lead the stock towards the next resistance of MYR1.66, followed by the MYR1.76 historical high. If the stock falls below the MYR1.58 support, this expectation would be cancelled.

Source: RHB Securities Research - 24 Aug 2021