Ewein Bhd (EWEIN, 7249)

• We believe the buying interest for EWEIN have returned following a break-out from the 3-monthdownward channel pattern with a long white candle a few sessions back. In view of the 20-day and 50-day EMAs are converging and likely confirming its bullish crossover soon, additional upside strength may be present in the near term.

• We expect the rising momentum is set to steer the stock higher and test the next level of resistanceof RM1.37 (R1) and RM1.45 (R2) in the near term.

• On the downside, stop-loss is set at RM1.14, below the 20 days EMA.

Source: Rakuten Research - 26 Dec 2023

To sign up for an account: http://bit.ly/40BNqKI

[Youtube Tutorial] Account Opening & Enable Foreign Equity: http://bit.ly/3I5Jzxo