Telekom Malaysia’s buying interest is back after it broke out of the 4-week bullish flag pattern with another white candle yesterday. 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 RM5.10 level, with a stop-loss set at RM4.92, below 15 Jun’s low. Towards the upside, the near-term resistance level is seen at RM5.50, followed by RM5.70.

Entry : RM5.10–5.22

Target : RM5.50, RM5.70

Exit : RM4.92

Source: AmInvest Research - 29 Jun 2022