We believe the buying momentum for Deleum is back after it pushed out from the 1-week bullish flag pattern on Friday. The stock also posted two white candles in a row and hit its 52-week high, likely suggesting that bullish momentum is picking up further. A bullish bias may emerge above the RM0.97 level, with a stop-loss set at RM0.88, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM1.10, followed by RM1.20.

Entry : RM0.97–1.04

Target : RM1.10, RM1.20

Exit : RM0.88

Source: AmInvest Research - 7 Feb 2023