Perak Transit may rise further after it posted a third consecutive white candle and hit near its 52-week high yesterday. As the stock has broken out from the 7-week bullish rectangle pattern, the resumption of its previous uptrend may be taking place now. A bullish bias may emerge above the RM0.87 level, with a stop-loss set at RM0.80, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM0.92, followed by RM0.95.

Entry : RM0.87–0.88

Target : RM0.92, RM0.95

Exit : RM0.80

Source: AmInvest Research - 30 Aug 2022