Engtex Group posted a long white candle and pushed above the RM0.73 resistance (Sep 2021’s high) two sessions ago, which likely indicates the return of buying momentum. With the 20-day EMA remaining above the 50-day EMA since the bullish crossover in early February, the uptrend may continue in the near term. A bullish bias may emerge above the RM0.73 level, with a stop-loss set at RM0.68, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM0.80, followed by RM0.85.

Entry : RM0.73–0.735
Target : RM0.80, RM0.85
Exit : RM0.68
 

Source: AmInvest Research - 22 Apr 2022