We believe the buying momentum in Dayang Enterprise is back following a breach above the 3-month downtrend line albeit marginally yesterday. As the 20-day and 50-day EMAs are converging now and likely to confirm its bullish crossover soon, the current bullish bias may continue in the near term. A bullish bias may emerge above the RM0.90 level, with a stop-loss set at RM0.84, below 10 May’s low. Towards the upside, the near-term resistance level is seen at RM0.97, followed by RM1.03.

Entry : RM0.90–0.92

Target : RM0.97, RM1.03

Exit : RM0.84

Source: AmInvest Research - 19 May 2022