Cepatwawasan poised to propel towards multi-year high, says RHB Retail Research

TheEdge Fri, Apr 29, 2022 07:10am - 2 months View Original


KUALA LUMPUR (April 29): RHB Retail Research said Cepatwawasan Group Bhd is poised to propel towards the multi-year high as it bounced off the 21-day average line while hitting the RM1.22 immediate resistance on Thursday — supported by strong volume.

In a trading stocks note on Friday (April 29), the research house said if a breakout happens above that level, the uptrend is expected to persist towards the multi-year high level at RM1.30, followed by the RM1.40 level.

“Conversely, the stock may reverse direction if it falls below the RM1.10 support, as it forms a 'lower low' bearish structure below the 21-day average line,” it said.

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