Kronologi Asia’s buying interest is back after it broke out of the 1-month bullish falling wedge pattern with a long white candle a week ago. In view of the uncovered upside gap formed on 6 Mar and together with its rising EMAs, the bullish momentum is likely to pick up further. A bullish bias may emerge above the RM0.53 level, with a stop-loss set at RM0.49, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM0.60, followed by RM0.65.

Entry : RM0.53–0.55

Target : RM0.60, RM0.65

Exit : RM0.49

Source: AmInvest Research - 13 Mar 2023