Caely Holdings is poised to continue its recent strong uptrend, after it bounced towards hitting the recent high yesterday. If it manages to reclaim above the MYR0.55 level, ie yesterday’s intraday high, the positive momentum should propel the stock towards the higher resistance of MYR0.645, followed by MYR0.80. Conversely, falling below the MYR0.495 support will trigger selling pressure and reverse the momentum, as it nullifies the recent breakout level.

Source: RHB Securities Research - 17 Feb 2022