SKP Resources’ buying interest is back after it broke out of the 7-week downward channel with a white candle on Wednesday.
In view of the uncovered upside gap formed on 20 July and together with all of its rising EMAs, the bullish momentum is likely to
pick up further. A bullish bias may emerge above the RM1.52 level, with a stop-loss set at RM1.41, below 7 July’s low. Towards
the upside, the near-term resistance level is seen at RM1.65, followed by RM1.70.

Entry : RM1.52–1.56
Target : RM1.65, RM1.70
Exit : RM1.41
 

Source: AmInvest Research - 22 Jul 2022