Sports Toto Berhad (SPTOTO, 1562)

• SPTOTO rebounded sharply with a long white candlestick yesterday, closing above the EMAs,signalling a resurgence of strong buying interest. We believe the stock is regaining its strength after experiencing a short-term correction at the end of November last year.

• Thus, we expect the rising momentum to steer the stock higher and test the next resistance atRM1.61 (R1) followed by RM1.68 (R2) in the near term.

• On the downside, stop-loss is set at RM1.47.

Source: Rakuten Research - 14 Jan 2025

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