Gadang may rise higher after it gapped up and hit a new 52-week high on Friday. As the 20-day and 50-day EMAs have established a bullish crossover since early May, the current upward momentum may continue in the near term. A bullish bias may emerge above the RM0.48 level with stop-loss set at RM0.45, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.55, followed by RM0.60.

Entry : RM0.48–0.50

Target : RM0.55, RM0.60

Exit : RM0.45

Source: AmInvest Research - 18 Jun 2024