We expect further upside for AME REIT after it recouped the previous week’s losses and closed above the RM1.17 resistance yesterday. With the stock posting a long white candle and hitting near its all-time high, the bullish momentum may be present now. A bullish bias may emerge above the RM1.17 level, with a stop-loss set at RM1.11, below 20 Sep’s low. Towards the upside, the near-term resistance level is seen at RM1.30, followed by RM1.40.

Entry : RM1.17–1.20

Target : RM1.30, RM1.40

Exit : RM1.11

Source: AmInvest Research - 30 Sept 2022