Coastal Contracts’ buying interest is back after it broke out of the 6-week bullish flag pattern with a white candle yesterday. With the stock pushing near its all-time high, supported by its rising EMAs, likely indicates that the bullish momentum may be picking up. A bullish bias may emerge above the RM2.50 level, with a stop-loss set at RM2.36, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM2.80, followed by RM3.00.

Entry : RM2.50–2.59

Target : RM2.80, RM3.00

Exit : RM2.36

Source: AmInvest Research - 19 Jan 2023