Seng Fong may trend higher after it broke above the key RM0.75 resistance (the horizontal line) and hit its all-time high on Friday. With its 20-day EMA starting to turn upwards, and coupled with a bullish hammer pattern, the stock looks positive in the near term. A bullish bias may emerge above the RM0.75 level, with a stop-loss set at RM0.70, below the hammer pattern support. Towards the upside, the near-term resistance level is seen at RM0.82, followed by RM0.85.
Entry : RM0.75–0.77
Target : RM0.82, RM0.85
Exit : RM0.70
Source: AmInvest Research - 29 Aug 2022
Chart | Stock Name | Last | Change | Volume |
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Created by AmInvest | Jul 26, 2024
Created by AmInvest | Jul 26, 2024
Created by AmInvest | Jul 26, 2024