We expect further upside for AGX Group given that it took out the 5-week downtrend line yesterday. Given that the stock has also broken out from a 2-week bullish rectangle pattern, the uptrend may persist in the near term. A bullish bias may emerge above the RM0.55 level with stop-loss set at RM0.47, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM0.65, followed by RM0.70.
Entry: RM0.55-0.565
Target: RM0.65, RM0.70
Exit: RM0.47
Source: AmInvest Research - 19 Sep 2024
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