Cnergenz ended higher and surged above the RM1.00 psychological mark on Friday, likely indicating the return of buying interest. The stock also broke out of the 3-week bullish falling wedge pattern, and coupled with its bullish hammer pattern formed on 2 Sep, the upward momentum appears to be picking up. A bullish bias may emerge above the RM0.95 level, with a stop-loss set at RM0.89, below 8 Sep’s low. Towards the upside, the near-term resistance level is seen at RM1.10, followed by RM1.20.

Entry : RM0.95–1.02

Target : RM1.10, RM1.20

Exit : RM0.89

Source: AmInvest Research - 12 Sept 2022