We believe the buying interest for Betamek is back after it surged above the 20-day EMA with a white marubozu candle yesterday. The stock’s move above the key RM0.535 resistance also coincides with a new 7-week high, indicating that a bullish outlook can be anticipated here. A bullish bias may emerge above the RM0.535 level, with a stop-loss set at RM0.46, below the 8 Dec low. Towards the upside, the near-term resistance level is seen at RM0.65, followed by RM0.70.

Entry : RM0.535–0.575

Target : RM0.65, RM0.70

Exit : RM0.46

Source: AmInvest Research - 20 Dec 2022