PT Resources broke out from its 1-month bullish triangle pattern a few candles back, implying that its previous uptrend may have resumed. 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 RM0.56 level, with a stop-loss set at RM0.50, below the 12 Jan low. Towards the upside, the near-term resistance level is seen at RM0.65, followed by RM0.70.

Entry : RM0.56–0.585

Target : RM0.65, RM0.70

Exit : RM0.50

Source: AmInvest Research - 26 Jan 2023