RHB Retail Research said CEKD Bhd is set for an uptrend rebound after it bounced off the 21-day simple moving average line and breached the immediate resistance of 49 sen on a surge in trading volume.
In a trading stocks note on Friday, the research house said that in the coming sessions, the bulls are likely to propel the stock toward the recent high of 51.5 sen, followed by 53.5 sen.
“If it falls below the support of 46.5 sen, this would spark the beginning of a correction,” it said.
Stock: [CEKD]: CEKD BERHAD
2 months ago | Report Abuse
RHB Retail Research said CEKD Bhd is set for an uptrend rebound after it bounced off the 21-day simple moving average line and breached the immediate resistance of 49 sen on a surge in trading volume.
In a trading stocks note on Friday, the research house said that in the coming sessions, the bulls are likely to propel the stock toward the recent high of 51.5 sen, followed by 53.5 sen.
“If it falls below the support of 46.5 sen, this would spark the beginning of a correction,” it said.