Central Global (KLSE: 8052) - Accumulation Phase Continues

We had observed a continued buying interest for CGB starting from the 0.825 level, all the way to the current 0.865 level, as represented by the red bars below. This has been accompanied by healthy daily traded volume. CGB’s accumulation trend has been further supported by the positive MACD 4c bars, which indicates an uptrend ahead. We think this might be a good opportunity for traders to follow through with the current price.

Support: 0.850, 0.825

Resistance: 0.880, 0.900