We believe the buying interest for Dayang Enterprise is back after it pushed out from the 2-month bullish ascending triangle pattern with a white candle yesterday. With the stock trading at its new 52-week high, and together with all its rising EMAs, a bullish outlook can be expected here. A bullish bias may emerge above the RM1.18 level, with a stop-loss set at RM1.06, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM1.30, followed by RM1.40.

Entry : RM1.18–1.21

Target : RM1.30, RM1.40

Exit : RM1.06

Source: AmInvest Research - 28 Oct 2022