Hextar Industries may rise further after it formed a second consecutive white candle yesterday. With the bullish engulfing pattern coming off the rising 20-day EMA, its bullish momentum is likely to pick up. An upbeat bias may emerge above the RM0.29 level, with a stop-loss set at RM0.26, below the 20-day EMA. On the upside, the near-term resistance level is seen at RM0.33, followed by RM0.35.

Entry: RM0.29–0.305

Target: RM0.33, 0.35

Exit: RM0.26

Source: AmInvest Research - 1 Mar 2022