SFP Tech Holdings may conitnue rising after it formed a long white candle and cracked above the key RM0.71 resistance (the Jun high) decisively yesterday. The stock has been marking higher closes since 26 July, and coupled with the rising 20-day EMA, the uptrend may continue in the near term. A bullish bias may emerge above the RM0.73 level, with a stop-loss set at RM0.67, below 28 July’s low. Towards the upside, the near-term resistance level is seen at RM0.85, followed by RM0.90.

Entry : RM0.73–0.775

Target : RM0.85, RM0.90

Exit : RM0.67

Source: AmInvest Research - 29 Jul 2022