We expect further upside for Gamuda after it recovered above the RM3.00 psychological mark a week ago. As the 20-day and 50-day EMAs have established their bullish crossover since early March, the stock looks positive in the short and medium term. A bullish bias may emerge above the RM3.00 level, with a stop-loss set at RM2.88, below the 50-day EMA. On the upside, the near-term resistance level is seen at RM3.30, followed by RM3.50.

Entry : RM3.00–3.06

Target : RM3.30, 3.50

Exit : RM2.88

Source: AmInvest Research - 9 Mar 2022