Matrix Concepts may rise higher after it gapped up and posted a white candle yesterday. The stock also broke out of the 3-week bullish falling wedge pattern, and together with its rising EMAs, the upward momentum appears to be picking up. A bullish bias may emerge above the RM2.30 level, with a stop-loss set at RM2.24, below 8 March’s low. On the upside, the near-term resistance level is seen at RM2.50, followed by RM2.55.

Entry : RM2.30–2.35

Target : RM2.50, 2.55

Exit : RM2.24

Source: AmInvest Research - 15 Mar 2022