Coraza Integrated Technology may rise higher after it gapped up and closed above the RM0.775 resistance yesterday. The stock also broke out from the 1-week bullish pennant pattern, which coincided with a breakaway gap, likely indicating that the near-term bullish trend may persist. A bullish bias may emerge above the RM0.775 level, with a stop-loss set at RM0.73, below 11 Aug’s upside gap support. Towards the upside, the near-term resistance level is seen at RM0.85, followed by RM0.90.

Entry : RM0.775–0.81

Target : RM0.85, RM0.90

Exit : RM0.73

Source: AmInvest Research - 12 Aug 2022