We believe the buying interest for Dayang Enterprise is back after it broke out from the 5-week bullish pennant pattern two sessions ago. With the stock pushing near its 52-week high, which coincides with its rising 50-day EMA, the upward momentum may be present now. A bullish bias may emerge above the RM1.30 level, with a stop-loss set at RM1.22, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM1.45, followed by RM1.50.

Entry : RM1.30–1.33

Target : RM1.45, RM1.50

Exit : RM1.22

Source: AmInvest Research - 29 Dec 2022