We believe the buying interest in Bonia Corporation is back after it pushed out from the 2-week bullish flag pattern with a long white candle yesterday. As both the 20-day and 50-day EMAs are starting to trend higher, a positive outlook can be expected here. A bullish bias may emerge above the RM2.60 level, with a stop-loss set at RM2.38, below 31 May’s low. Towards the upside, the near-term resistance level is seen at RM3.00, followed by RM3.20.

Entry : RM2.60–2.72

Target : RM3.00, RM3.20

Exit : RM2.38

Source: AmInvest Research - 8 Jun 2022