We believe the buying interest for PGF Capital is back after it broke out from the 6-week downward channel yesterday. With the stock posting another white candle and pushing near its 52-week high, the bullish momentum may be present now. A bullish bias may emerge above the RM1.00 level, with a stop-loss set at RM0.95, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM1.10, followed by RM1.20.

Entry : RM1.00–1.05

Target : RM1.10, RM1.20

Exit : RM0.95

Source: AmInvest Research - 15 Jul 2022