<div class=newsTextDataWrapInner><p>KUALA LUMPUR (March 14): Shares in Cocoaland Holdings Bhd rose 2.31% in early trade on Monday (March 14) following a positive technical outlook for the stock.</p></div>

<div class=newsTextDataWrapInner><p>At 9.35am, Cocoaland had added three sen to RM1.33, with&nbsp;a market capitalisation of RM606.61 million.</p></div>

<div class=newsTextDataWrapInner><p>RHB Retail Research said Cocoaland&nbsp;is set to propel towards a multi-year high after breaching the immediate resistance level of RM1.29 on surging volume last Friday, printing a “higher high” bullish structure.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>In a trading stocks note on Monday, the research house said if the stock manages to stay above that level, the bulls may bring the stock towards the next resistance of RM1.36, followed by RM1.42 level, i.e. the highest level since October 2017.</p></div>

<div class=newsTextDataWrapInner><p>“However, the momentum may lose steam if it falls below the RM1.21 support&nbsp;to print a 'lower low'&nbsp;bearish structure below the 21-day average line,” it said.</p></div>

<div class=newsTextDataWrapInner><p><em>Read also:<br />
<a href="https://www.theedgemarkets.com/article/cocoaland-set-propel-towards-multiyear-high-says-rhb-retail-research" target="_blank">Cocoaland set to propel towards multi-year high, says RHB Retail Research</a></em></p></div>


Shares in Cocoaland Holdings Bhd rose 2.31% in early trade on Monday (March 14) following a positive technical outlook for the stock.

At 9.35am, Cocoaland had added three sen to RM1.33, with a market capitalisation of RM606.61 million.

Cocoaland rises 2.31% on positive technical outlook

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