Gas Malaysia Bhd (GASMSIA, 5209)

• We expect GASMSIA to trend higher after breaking out from its bullish flag pattern as observed byan opening white Marubozu candlestick yesterday. In view of its strong YTD performance, the stock is trading in an upward channel, supported by healthy EMAs. We believe a bullish momentum may persist as the stock is trading near its 52-week high.

• We expect the rising momentum to steer the stock higher and test the next resistance at RM4.00(R1) followed by RM4.10 (R2) in the near term.

• On the downside, stop-loss is set at RM3.60.

Source: Rakuten Research - 15 Oct 2024

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

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