We expect further upside in Infoline Tec Group after it recouped the previous session’s losses and pushed higher from its RM0.39 low. With the stock hitting its all-time high, supported by its rising 20-day EMA, this likely indicates that the bullish momentum may be picking up. A bullish bias may emerge above the RM0.42 level, with a stop-loss set at RM0.38, below 2 Sep’s low. Towards the upside, the near-term resistance level is seen at RM0.46, followed by RM0.50.

Entry : RM0.42–0.43

Target : RM0.46, RM0.50

Exit : RM0.38

Source: AmInvest Research - 6 Sept 2022