Dayang Enterprise may trend higher after it closed above the RM1.00 psycholgical spot albeit marginally yesterday. The stock has been chalking up higher closes since 20 May. Coupled with the positive cross of its 20-day EMA above the 50-day EMA two weeks ago, the stock still looks positive in the near term. A bullish bias may emerge above the RM1.00 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 : RM1.00–1.01

Target : RM1.10, RM1.15

Exit : RM0.92

Source: AmInvest Research - 31 May 2022