Mega First Corporation may trend higher after hitting its new multi-year high with a long white candle yesterday. Given that the stock has broken out from a 1-month bullish rectangle pattern, the resumption of its previous uptrend may be taking place now. A bullish bias may emerge above the RM4.50 level with stop-loss set at RM4.10, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM5.00, followed by RM5.50.
Entry : RM4.50–4.68
Target : RM5.00, RM5.50
Exit : RM4.10
Source: AmInvest Research - 19 Apr 2024
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Created by AmInvest | Sep 19, 2024
Created by AmInvest | Sep 17, 2024