Coraza poised to resume uptrend, says RHB Retail Research
22 Sep 2022, 07:19 am
KUALA LUMPUR (Sept 22): RHB Retail Research said Coraza Integrated Technology Bhd is poised to resume the uptrend after it rebounded strongly above the 21-day average line on Wednesday (Sept 21), while heading towards the immediate resistance of 84.5 sen.
In a trading stocks note on Thursday, the research house said if a breakout happens above that level, the bullish bias may propel it further towards the 89.5 sen point (Sept 13’s high), followed by 97.5 sen or Feb 7’s high.
“However, the counter may reverse direction if it falls below the 77 sen support — trading below the average line while forming a 'lower low' bearish structure,” it said.
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