Shin Yang Group’s buying interest is back after it broke out of the 1-week bullish pennant pattern with a long positive candle yesterday. In view of the uncovered upside gap formed on 4 June with rising EMAs, the upward momentum is likely to pick up further. A bullish bias may emerge above the RM0.77 level with stop-loss set at RM0.71, below the upside gap support. Towards the upside, near-term resistance level is seen at RM0.90, followed by RM0.95.

Entry : RM0.77–0.805

Target : RM0.90, RM0.95

Exit : RM0.71

Source: AmInvest Research - 11 Jun 2024