We believe the buying interest for Genetec Technology may have returned following a breach above the 9-month downtrend line a week ago. Coupled with the positive cross of its 20-day EMA above the 50-day EMA line two candles back, this crossover has enhanced the near-term bullish momentum. A bullish bias may emerge above the RM2.30 level, with a stop-loss set at RM2.15, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM2.55, followed by RM2.70.

Entry : RM2.30–2.40

Target : RM2.55, RM2.70

Exit : RM2.15

Source: AmInvest Research - 4 Aug 2022