Cnergenz formed a third consecutive white candle yesterday, which likely indicates the return of buying interest. As the stock has recovered above its RM0.60 threshold and coupled with the bullish hammer pattern formed on 20 June, the stock looks positive in the near term. A bullish bias may emerge above the RM0.60 level, with a stop-loss set at RM0.55, below the hammer pattern support. Towards the upside, the near-term resistance level is seen at RM0.67, followed by RM0.71.

Entry : RM0.60–0.615

Target : RM0.67, RM0.71

Exit : RM0.55

Source: AmInvest Research - 22 Jun 2022