Fiamma Holdings’ buying interest is back after it formed a long white candle and broke above the 3-month downtrend line a week ago. As the 20-day and 50-day EMAs have established their bullish crossover a few candles back, the current bullish momentum may continue in the near term. A bullish bias may emerge above the RM0.90 level, with a stop-loss set at RM0.86, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM1.00, followed by RM1.05.

Entry : RM0.90–0.94

Target : RM1.00, RM1.05

Exit : RM0.86

Source: AmInvest Research - 27 Jul 2022