The upside gap and breakout above the downtrend line seen yesterday indicates that Tex Cycle Technology’s buying interest may have returned. With the stock posting a long white candle and pushing near its all-time high, the bullish momentum may be present now. A bullish bias may emerge above the RM0.77 level, with a stop-loss set at RM0.73, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM0.87, followed by RM0.95.

Entry : RM0.77–0.82

Target : RM0.87, RM0.95

Exit : RM0.73

Source: AmInvest Research - 31 Mar 2023