KUALA LUMPUR (Aug 12): RHB Retail Research said CTOS Digital Bhd is set to propel towards the five-month high after it underwent a breakout above the RM1.46 resistance-turned-support on Thursday, forming a “higher high” bullish pattern.

In a trading stocks note on Friday (Aug 12), the research house said that coupled with the “Bullish Marubozu” candlestick printed on Thursday, the stock is prepared to climb towards RM1.58, or April 25’s high, before hitting April’s high of RM1.63, i.e. the next resistance level.

“If it falls below the RM1.40 support, the momentum may reverse direction as it forms a 'lower low' bearish pattern and keens towards the 21-day average line,” it said.