Supercomnet Technologies may trend upwards further after it broke out from its 2 weeks rectangle pattern with a white candle yesterday. Given that the stock has posted three white candles in a row and coupled with the rising 20-day EMA, this has enhanced the bullish momentum. A bullish bias may emerge above the RM1.80 level, and the bullish momentum should lift it towards the subsequent resistance levels of RM1.91, followed by RM2.08. Towards the downside, stop-loss is set at RM1.66, below 21 Nov’s low.

Entry : RM1.80-1.81

Target : RM1.91, RM2.08

Exit : RM1.66

Source: AmInvest Research - 6 Dec 2022