We believe the buying momentum on Tomei Consolidated is back following its breakout above the key RM1.28 resistance with a long white candle yesterday. The stock hit a new 52-week high coupled with its rising EMAs, additional upside strength may be present in the near term. A bullish bias may emerge above the RM1.28 level, with a stop-loss set at RM1.18, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM1.45, followed by RM1.50.

Entry : RM1.28–1.33

Target : RM1.45, RM1.50

Exit : RM1.18

Source: AmInvest Research - 7 Apr 2023