We expect further upside in Dufu Technology after it surged above its 20-day EMA two weeks ago. As the 20-day and 50-day EMAs are converging now and likely to confirm its bullish crossover soon, the stock looks positive in the near term. A bullish bias may emerge above the RM2.60 level, with a stop-loss set at RM2.48, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM3.00, followed by RM3.20.

Entry : RM2.60–2.80

Target : RM3.00, RM3.20

Exit : RM2.48

Source: AmInvest Research - 15 Jun 2022