We expect further upside for Only World Group after it surged to a new 52-week high with a white marubozu candlestick on Friday. With the 20-day EMA remaining above the 50-day EMA since the bullish crossover in mid-February, the uptrend may continue in the near term. A bullish bias may emerge above the RM0.62 level, with a stop-loss set at RM0.59, below 7 April’s low. On the upside, the near-term resistance level is seen at RM0.71, followed by RM0.75.

Entry : RM0.62–0.67

Target : RM0.71, RM0.75

Exit : RM0.59

Source: AmInvest Research - 11 Apr 2022