KUALA LUMPUR (Dec 2): RHB Retail Research said Cnergenz Bhd is set to propel towards RM1 after firming up its uptrend reversal pattern above the 21-day average line, amid the breakout above the 89.5 sen immediate resistance on Thursday — forming a “higher high” bullish pattern with higher trading volume.

In a trading stocks note on Friday, the research house said that if the stock manages to stay above that level, the bullish bias would drive the stock further towards the RM1 psychological level, followed by RM1.07, ie Oct 4’s high.

“Conversely, the stock may reverse direction if it falls below the 83.5 sen support, forming a 'lower low' bearish structure beneath the average line,” it said.