Chin Well broke out from its 5-week bullish triangle pattern two sessions ago, implying that its previous uptrend may have resumed. With the 20-day EMA remaining above the 50-day EMA since the bullish crossover in early June, the uptrend may continue in the near term. A bullish bias may emerge above the RM1.70 level, with a stop-loss set at RM1.63, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM1.95, followed by RM2.00.

Entry : RM1.70–1.81

Target : RM1.95, RM2.00

Exit : RM1.63

Source: AmInvest Research - 8 Jul 2022