CWG Holdings is set to resume the uptrend, after it bounced off the 21-day average line and breached the MYR0.48 immediate resistance on strong volume. The “White Marubozu” candlestick printed yesterday signals a bullish momentum that could propel the stock to its recent high of MYR0.52, followed by the next resistance of MYR0.575 – its highest level since 9 Aug. This expectation will be nullified if it falls below the support level of MYR0.44.

Source: RHB Securities Research - 8 Dec 2021