Dayang Enterprise may rise higher after it gapped up and hit a new 52-week high yesterday. Given that the stock has broken out from the 2-month bullish triangle formation as well, the resumption of its previous uptrend may be taking place now. A bullish bias may emerge above the RM1.40 level, with a stop-loss set at RM1.28, below the 50-day EMA. Towards the upside, the nearterm resistance level is seen at RM1.55, followed by RM1.60.

Entry : RM1.40–1.45

Target : RM1.55, RM1.60

Exit : RM1.28

Source: AmInvest Research - 13 Jan 2023