SDS Group’s buying interest is back after it rose above its 20-day EMA with a second consecutive white candle yesterday. The stock also pushed out from the 6-week bullish triangle pattern albeit marginally, likely suggesting that bullish momentum is picking up further. A bullish bias may emerge above the RM0.56 level, with a stop-loss set at RM0.52, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM0.63, followed by RM0.65.

Entry : RM0.56–0.59

Target : RM0.63, RM0.65

Exit : RM0.52

Source: AmInvest Research - 18 Oct 2022