Engtex Group Bhd

• ENGTEX may extend it upward trajectory after it surged to a new 52-week high after breaking out from its 3-week rectangular pattern yesterday. In view of the stock pulling further away from all the EMAs, that coincides with three consecutive white candles, this signals a continuation of the ongoing uptrend.

• We expect the rising momentum is set to steer the stock higher and test the next level of resistance of RM0.85 (R1) followed by RM0.90 (R2) in the near term.

• On the downside, stop-loss is set at RM0.72 below the 11 Dec’s low.

Source: Rakuten Research - 4 Jan 2024

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

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