We expect further upside for Gas Malaysia after it pushed above the 2-month bullish falling wedge pattern with a long white candle yesterday. As the stock has recovered above its 20-day EMA and coupled with the bullish harami pattern formed on 5 July, there is likely still room to the upside from here. A bullish bias may emerge above the RM3.00 level, with a stop-loss set at RM2.85, below 5 July’s low. Towards the upside, the near-term resistance level is seen at RM3.20, followed by RM3.30.

Entry : RM3.00–3.09

Target : RM3.20, RM3.30

Exit : RM2.85

Source: AmInvest Research - 14 Jul 2022