EG Industries posted 2 long positive candles in a row and its 20-day EMA has started to turn up a few sessions ago, likely indicating the return of buying interest. The stock’s move above the key RM1.75 resistance also coincides with a new record high, which may see additional strength in the near term. A bullish bias may emerge above the RM1.90 level with stop-loss set at RM1.73, below the 24 Jun low. Towards the upside, near-term resistance level is seen at RM2.20, followed by RM2.40.

Entry : RM1.90–1.97

Target : RM2.20, RM2.40

Exit : RM1.73

Source: AmInvest Research - 28 Jun 2024