Deleum may trend higher after it surged to a new 52-week high and cracked above the RM0.70 resistance on Friday. The stock also posted a long white candle and broke out of the 2-week bullish rectangle pattern, likely suggesting that its bullish momentum is picking up further. A bullish bias may emerge above the RM0.70 level, with a stop-loss set at RM0.65, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM0.76, followed by RM0.80.

Entry : RM0.70–0.72

Target : RM0.76, RM0.80

Exit : RM0.65

Source: AmInvest Research - 9 May 2022