Caely Holdings is set to climb towards the 52-week high following a sharp rebound while surpassing the resistance level of MYR0.43 on high volume yesterday – printing a “White Marubozu” bullish candlestick. If it manages to stay above that level, a follow-through of this bullish momentum should propel the stock towards the MYR0.48 resistance, before possibly hitting the 52-week high level of MYR0.52. If it falls below the MYR0.41 support, the momentum may be reversed.

Source: RHB Securities Research - 7 Dec 2021