Gadang may rise higher after it posted another white candle and hit a new 52-week high on Wednesday. Given that the stock has broken out from an 11-week bullish rectangle pattern, the resumption of its previous uptrend may be taking place now. A bullish bias may emerge above the RM0.42 level with stop-loss set at RM0.39, below the 20-day EMA. Towards the upside, nearterm resistance level is seen at RM0.50, followed by RM0.55.
Entry : RM0.42–0.44
Target : RM0.50, RM0.55
Exit : RM0.39
Source: AmInvest Research - 29 Mar 2024
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Created by AmInvest | Nov 21, 2024