We believe the buying interest for Coastal Contracts is back after it broke out from the 2-week bullish falling wedge pattern with a long white candle yesterday. With the stock pushing near its all-time high, a bullish outlook can be expected here. An upbeat bias may emerge above the RM2.00 level, with a stop-loss set at RM1.83, below 22 Feb’s low. On the upside, the near-term resistance level is seen at RM2.20, followed by RM2.30.

Entry: RM2.00–2.06

Target: RM2.20, 2.30

Exit: RM1.83

Source: AmInvest Research - 24 Feb 2022