KUALA LUMPUR (May 13): RHB Retail Research said Careplus Group Bhd (KL:CAREPLS) is set for an uptrend reversal after rebounding above the 21-day simple moving average line while surpassing the 31.5 sen immediate resistance last Friday on stronger trading volume.
In a note on Monday, the research house said that if the breakout above that level sustains, the positive momentum will drive the stock higher towards the 35 sen resistance or Feb 16’s high.
“This is followed by the 38.5 sen next resistance, ie Jan 29’s high.
“On the flip side, falling below the 29 sen support negates the bullish setup,” it said.