We expect further upside for Cape EMS after it recouped the previous session’s losses and pushed higher from its RM1.30 low.
As the stock also broke out of the 1-week bullish flag pattern, it may see additional strength in the near term. A bullish bias may
emerge above the RM1.38 level, with a stop-loss set at RM1.28, below the 16 Mar low. Towards the upside, the near-term
resistance level is seen at RM1.50, followed by RM1.60.

Entry : RM1.38–1.41

Target : RM1.50, RM1.60

Exit : RM1.28

Source: AmInvest Research - 20 Mar 2023