Telekom Malaysia broke out from its 7-week bullish triangle pattern with another white candle on Friday, implying that its previous uptrend may have resumed. With the 20-day EMA remaining above the 50-day EMA since the positive crossover in early June, the uptrend may continue in the near term. A bullish bias may emerge above the RM5.20 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 RM5.60, followed by RM5.80.

Entry : RM5.20–5.34

Target : RM5.60, RM5.80

Exit : RM4.92

Source: AmInvest Research - 18 Jul 2022