Ecomate Holdings may trend higher after it broke above the key RM0.54 resistance with a long white candle yesterday. As the 20-day and 50-day EMAs have established their bullish crossover since mid-April, the current bullish bias may continue in the near term. A bullish bias may emerge above the RM0.54 level, with a stop-loss set at RM0.49, below 7 July’s low. Towards the upside, the near-term resistance level is seen at RM0.60, followed by RM0.65.

Entry : RM0.54–0.56

Target : RM0.60, RM0.65

Exit : RM0.49

Source: AmInvest Research - 13 Jul 2022