Bermaz Auto pushed out from the 2-week bullish flag pattern two sessions ago, likely indicating the return of buying interest. With the rising 20-day EMA and coupled with a high trading volume, this has enhanced the bullish momentum. A bullish bias may emerge above the RM1.84 level, and the bullish momentum should lift it towards the subsequent resistance levels of RM1.96, followed by RM2.00. Towards the downside, stop-loss is set at RM1.79, below the 50-day EMA.

Entry : RM1.84–1.87

Target : RM1.96, RM2.00

Exit : RM1.79

Source: AmInvest Research - 3 Oct 2022