SFP Tech may rise higher after it formed a long white candle and hit a new all-time high yesterday. Given that the stock has broken out from the 1-week bullish flag pattern, and together with its rising EMAs, the uptrend may continue in the near term. A bullish bias may emerge above the RM1.60 level, with a stop-loss set at RM1.40, below 19 Sep’s low. Towards the upside, the near-term resistance level is seen at RM1.80, followed by RM1.90.

Entry : RM1.60–1.71

Target : RM1.80, RM1.90

Exit : RM1.40

Source: AmInvest Research - 22 Sept 2022