We think buying interest for Genetec Technology may have returned after it recouped the previous two sessions’ losses and closed above its 20-day EMA yesterday. This breakout move also saw prices breaking above the downtrend line derived from Feb high, indicating that the uptrend may continue in the near term. A bullish bias may emerge above the RM2.15 level, with a stop-loss set at RM1.87, below 15 March’s low. On the upside, the near-term resistance level is seen at RM2.45, followed by RM2.60.

Entry : RM2.15–2.25

Target : RM2.45, 2.60

Exit : RM1.87

Source: AmInvest Research - 17 Mar 2022