Magni-Tech Industries may trend higher after it closed above the RM2.00 psychological mark with a long white candle a few candles back. As the 20-day and 50-day EMAs have confirmed their bullish crossover two weeks ago, the stock looks positive in the near term. A bullish bias may emerge above the RM2.00 level, with a stop-loss set at RM1.88, below 20 May’s low. Towards the upside, the near-term resistance level is seen at RM2.15, followed by RM2.20.

Entry : RM2.00–2.05

Target : RM2.15, RM2.20

Exit : RM1.88

Source: AmInvest Research - 13 Jun 2022