ITMAX System’s buying interest is back after it breached above the 2-month downtrend line derived from the Feb high yesterday. As the stock has recovered above its 20-day EMA and coupled with the bullish hammer pattern formed on 27 Mar, there is likely still room to the upside from here. A bullish bias may emerge above the RM1.44 level, with a stop-loss set at RM1.29, below the hammer pattern support. Towards the upside, the near-term resistance level is seen at RM1.60, followed by RM1.65.

Entry : RM1.44–1.48

Target : RM1.60, RM1.65

Exit : RM1.29

Source: AmInvest Research - 5 Apr 2023