We believe the buying interest in LGMS is back after it pushed out from the 1-week bullish flag pattern with a long white candle yesterday. With the hammer pattern coming off the rising 20-day EMA on 2 Sep, the bullish momentum is likely picking up. A bullish bias may emerge above the RM1.10 level, with a stop-loss set at RM0.995, below 2 Sep’s low. Towards the upside, the near-term resistance level is seen at RM1.20, followed by RM1.30.

Entry : RM1.10–1.14

Target : RM1.20, RM1.30

Exit : RM0.995

Source: AmInvest Research - 7 Sept 2022