KUALA LUMPUR (July 24): Shares in Cuscapi Bhd gained 2.5 sen or 9.43% to 29 sen in early trade today as the stock was supported by strong technicals.

“Cuscapi is staging a recovery to break out of consolidation phase,” PublicInvest Research said in a note today, adding that there was possible upside for the stock.

It was the third most actively traded counter on Bursa Malaysia, with 24.92 million shares traded as at 10.00am.

“Should the resistance level of 30 sen be broken, it may continue to lift price higher to subsequent resistance level of 34 sen,” PublicInvest Research said, setting the support level at 24.5 sen.

Meanwhile, AmInvestment Bank said in another note today that a bullish bias may be present on the stock above 26 sen, with a target price of 28 sen, followed by 30 sen.

Cuscapi is a business management solutions provider in the food and beverage industry.