SFP Tech’s buying interest is back after it pushed out of the 1-week bullish flag pattern with another white candle yesterday. With its 20-day EMA starting to trend higher again, coupled with the bullish hammer pattern formed on 2 Sep, additional upside strength may be present in the near term. A bullish bias may emerge above the RM1.20 level, with a stop-loss set at RM1.11, below 2 Sep’s low. Towards the upside, the near-term resistance level is seen at RM1.44, followed by RM1.50.

Entry : RM1.20–1.31

Target : RM1.44, RM1.50

Exit : RM1.11

Source: AmInvest Research - 8 Sept 2022