Eonmetall Group’s buying momentum is back after it broke out of the 6-week bullish triangle pattern with a long white candle on Friday. With the stock pushing near its 52-week high, supported by its rising EMAs, likely indicates that the upward momentum may be picking up. A bullish bias may emerge above the RM0.68 level, with a stop-loss set at RM0.62, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM0.75, followed by RM0.80.

Entry : RM0.68–0.70

Target : RM0.75, RM0.80

Exit : RM0.62

Source: AmInvest Research - 17 Oct 2022