Tambun Indah Land may rise further after it formed a long white candle and hit a new 52-week high yesterday. As the 20-day and 50-day EMAs have established their bullish crossover since late February, the current bullish bias may continue in the near term. A bullish bias may emerge above the RM0.99 level, with a stop-loss set at RM0.92, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM1.10, followed by RM1.15.

Entry : RM0.99–1.02

Target : RM1.10, RM1.15

Exit : RM0.92

Source: AmInvest Research - 25 May 2022