UEM Sunrise broke out from a 2-week bullish flag pattern 2 sessions ago, implying that its previous uptrend may have resumed. With the stock pushing near its multi-year high supported by rising EMAs, this likely indicates that the upward momentum may be picking up. A bullish bias may emerge above the RM1.00 level, with stop-loss set at RM0.90, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM1.15, followed by RM1.20.

Entry : RM1.00–1.05

Target : RM1.15, RM1.20

Exit : RM0.90

Source: AmInvest Research - 24 Jan 2024