The long white candle and the breakout of the 1-week bullish pennant pattern on Thursday indicate that LGMS’s uptrend may have resumed. With the stock pushing near its 52-week high and together with its rising EMAs, the upward momentum may be present now. A bullish bias may emerge above the RM1.28 level, with a stop-loss set at RM1.14, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM1.45, followed by RM1.55.

Entry : RM1.28–1.34

Target : RM1.45, RM1.55

Exit : RM1.14

Source: AmInvest Research - 31 Oct 2022