We believe the buying interest for Dufu Technology Corp is back after it pushed out from the 1-week bullish pennant pattern with a white candle yesterday. Coupled with the positive cross of its 20-day EMA above the 50-day EMA a week ago, this crossover has enhanced the near term upward momentum. A bullish bias may emerge above the RM2.85 level, with a stop-loss set at RM2.71, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM3.20, followed by RM3.40.

Entry : RM2.85–3.00

Target : RM3.20, RM3.40

Exit : RM2.71

Source: AmInvest Research - 28 Jul 2022