Chin Well Holdings’ buying interest is back after it surged above the RM1.70 resistance with a long white candle two weeks ago. With the positive cross of its 20-day EMA above the 50-day EMA recently and the upside gap seen on 30 May, the bullish momentum is likely to pick up further. A bullish bias may emerge above the RM1.68 level, with a stop-loss set at RM1.55, below 30 May’s low. Towards the upside, the near-term resistance level is seen at RM1.90, followed by RM2.00.

Entry : RM1.68–1.72

Target : RM1.90, RM2.00

Exit : RM1.55

Source: AmInvest Research - 14 Jun 2022