Gas Malaysia posted three white candles in a row and its 20-day EMA has started to turn up yesterday, likely indicating the return of buying interest. Given that the stock has broken out from the 4-month bullish triangle formation as well, the resumption of its previous uptrend may be taking place now. A bullish bias may emerge above the RM3.35 level, with a stop-loss set at

RM3.18, below 26 Oct’s low. Towards the upside, the near-term resistance level is seen at RM3.60, followed by RM3.80.

Entry : RM3.35–3.44

Target : RM3.60, RM3.80

Exit : RM3.18

Source: AmInvest Research - 24 Nov 2022