ITMAX System Berhad (ITMAX, 5309)

• ITMAX rebounded strongly from its RM3.40 support to close above its EMA lines. While still trading within a consolidation range, the recent bullish momentum marked by multiple strong candlesticks suggests renewed buying interest further supported by a rising RSI. The strengthening EMAs indicate a potential golden cross in the near term.
• Thus, we expect the upward trajectory to steer the stock higher and test the initial resistance at RM3.80 (R1) followed by RM4.20 (R2).
• On the downside, stop-loss is set at RM3.40.

Source: Rakuten Research -

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