Cnergenz attempting to stage a technical rebound, says RHB Retail Research

Cnergenz attempting to stage a technical rebound, says RHB Retail Research
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KUALA LUMPUR (July 14): RHB Retail Research said Cnergenz Bhd is attempting to stage a technical rebound as it is oversold now.

In a trading stocks note on Thursday (July 14), the research house said the trading volume has been tapering recently, which suggests that the selling pressure is easing.

“In the event that it jumps above the 47 sen resistance, a bullish bias will emerge.

“The ensuing follow-through momentum should then lift it towards 49.5 sen, followed by 52 sen.

“On the other hand, falling below the support point of 43.5 sen would mean that the bears are still in control, and the stock should undergo a further correction,” it said.