NationGate broke out from its 2-week rectangle pattern with a white candle on Friday, implying that a bullish reversal sign may have occurred. As the stock also broke out of the 1-month downtrend line derived from Mar high, it may see additional strength in the coming sessions. A bullish bias may emerge above the RM1.27 level, with a stop-loss set at RM1.15, below the 22 Feb low. Towards the upside, the near-term resistance level is seen at RM1.40, followed by RM1.50.

Entry : RM1.27–1.29

Target : RM1.40, RM1.50

Exit : RM1.15

Source: AmInvest Research - 10 Apr 2023