CEKD set to resume uptrend rebound, says RHB Retail Research

TheEdge Fri, Dec 31, 2021 07:09am - 1 year View Original

KUALA LUMPUR (Dec 31): RHB Retail Research said CEKD Bhd is set to resume its uptrend rebound after it inched higher above the recent breakout level of 70.5 sen yesterday, thereby firming up the bullish bias.

In a trading stocks note today, the research house said if the stock stays above that level, the positive momentum may bring it closer to the resistance levels of 80 sen, followed by 85 sen.

“This expectation will be nullified if it falls below the 63 sen support level – as it would form a “lower low” bearish structure,” it said.


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