KUALA LUMPUR (Dec 27): Rakuten Trade said Able Global Bhd may extend its upward trajectory after it broke out from the one-month rectangular pattern on Tuesday.

In a technical view note on Wednesday, the research house said the stock is pulling further away from all the exponential moving averages, coupled with three consecutive white candles, indicating the bullish momentum is picking up further.

“We expect the rising momentum is set to steer the stock higher and test the next level of resistance of RM1.60 (R1) followed by RM1.65 (R2) in the near term.

“On the downside, stop-loss is set at RM1.35, below the Dec 6 low,” it said.