Perak Transit’s buying interest is back after it broke out of the 2-week bullish flag pattern with a long white candle two sessions ago. With the stock pushing near its 52-week high, which coincides with its rising EMAs, the bullish momentum may be present now. A bullish bias may emerge above the RM0.70 level, with a stop-loss set at RM0.66, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM0.76, followed by RM0.80.

Entry : RM0.70–0.725

Target : RM0.76, RM0.80

Exit : RM0.66

Source: AmInvest Research - 23 Jun 2022