We believe the buying momentum for Ajiya is back following a breached above the RM1.19 resistance (the horizontal line) yesterday. With the stock posting a long white candle and closing at its 52-week high, the bullish momentum appears to be picking up. A bullish bias may emerge above the RM1.19 level, with a stop-loss set at RM1.12, below the 20-day EMA. On the upside, the near-term resistance level is seen at RM1.35, followed by RM1.40.
Entry : RM1.19–1.25
Target : RM1.35, 1.40
Exit : RM1.12
Source: AmInvest Research - 18 Mar 2022
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Created by AmInvest | Nov 21, 2024