Evergreen Fibreboard posted three white candles in a row and closed above the RM0.58 mark (January’s high) yesterday, which likely indicates the return of buying interest. With the stock pushing near its 52-week high, coinciding with its rising EMAs, the bullish momentum may be present now. A bullish bias may emerge above the RM0.57 level, with a stop-loss set at RM0.53, below the 20-day EMA. On the upside, the near-term resistance level is seen at RM0.65, followed by RM0.70.  

Entry : RM0.57–0.59

Target : RM0.65, 0.70

Exit : RM0.53

Source: AmInvest Research - 23 Mar 2022