Genetec Technology Berhad (GENETEC, 0104)

• We anticipate GENETEC to trend higher after breaking out of its bullish flag pattern, confirmed by two consecutive white candlesticks. The stock has remained within an upward channel since the bullish crossover in early December as the formation of higher lows signals the potential for further upside in the near term.
• Thus, we expect the rising momentum to steer the stock higher and test the initial resistance at RM1.60 (R1) followed by RM1.85 (R2).
• On the downside, stop-loss is set at RM1.21

Source: Rakuten Research - 4 Feb 2025

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