We think the buying interest for P.I.E. Industrial is back following a breached above the RM3.00 resistance two weeks ago. As the 20-day and 50-day EMAs have established their bullish crossover since early June, the current bullish bias may continue in the near term. A bullish bias may emerge above the RM3.00 level, with a stop-loss set at RM2.68, below 26 May’s low. Towards the upside, the near-term resistance level is seen at RM3.40, followed by RM3.60.

Entry : RM3.00–3.12

Target : RM3.40, RM3.60

Exit : RM2.68

Source: AmInvest Research - 15 Jun 2022