Innoprise Plantations’ buying momentum is back after it broke out of the 2-month bullish triangle pattern a few sessions ago. With the stock pushing near its 52-week high, which coincides with its rising 20-day EMA, the bullish momentum may be present now. A bullish bias may emerge above the RM1.85 level, with a stop-loss set at RM1.73, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM2.00, followed by RM2.10.

Entry : RM1.85–1.91

Target : RM2.00, RM2.10

Exit : RM1.73

Source: AmInvest Research - 13 Apr 2022