Skyworld Development posted 2 long white candles in a row and left an upside gap yesterday, likely indicating the return of buying interest. As the stock has surged to a 6-month high, the near term bullish trend may still have legs. A bullish bias may emerge above the RM0.60 level with stop-loss set at RM0.55, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM0.70, followed by RM0.74.

Entry : RM0.60–0.625

Target : RM0.70, RM0.74

Exit : RM0.55

Source: AmInvest Research - 22 Mar 2024