We expect further upside for Coraza Integrated Technology after it formed a long white candle and surged to its 2-week high on Friday. As the stock has recovered above its 20-day EMA and coupled with the bullish piercing line pattern formed on 21 Jun, the stock looks positive in the near term. A bullish bias may emerge above the RM0.57 level, with a stop-loss set at RM0.52, below the piercing line pattern support. Towards the upside, the near-term resistance level is seen at RM0.65, followed by RM0.70.

Entry : RM0.57–0.60

Target : RM0.65, RM0.70

Exit : RM0.52

Source: AmInvest Research - 27 Jun 2022