Poh Huat Resources may trend higher after it surged to an 11-month high and closed above the RM1.48 resistance yesterday. As the 20-day and 50-day EMAs have established their bullish crossover since late March, the current bullish bias may continue in the near term. A bullish bias may emerge above the RM1.48 level, with a stop-loss set at RM1.42, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM1.60, followed by RM1.65.

Entry : RM1.48–1.53

Target : RM1.60, RM1.65

Exit : RM1.42

Source: AmInvest Research - 28 Apr 2022