We believe that the buying momentum on Pantech Group may have returned following its breakout above the 4-week bullish rectangle pattern on Monday. In view of the uncovered upside gap formed on 19 Oct and together with its rising EMAs, the bullish momentum is likely to pick up further. A bullish bias may emerge above the RM0.69 level, with a stop-loss set at RM0.65, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM0.75, followed by RM0.80.

Entry : RM0.69–0.70

Target : RM0.75, RM0.80

Exit : RM0.65

Source: AmInvest Research - 16 Nov 2022