We expect further upside for EG Industries after it formed a white candle and closed above the RM1.32 resistance yesterday. With the stock pushing near its all-time high, supported by its rising EMAs, likely indicates that the upward momentum may be picking up. A bullish bias may emerge above the RM1.32 level, with a stop-loss set at RM1.17, below the 31 Mar low. Towards the upside, the near-term resistance level is seen at RM1.46, followed by RM1.60.

Entry : RM1.32–1.35

Target : RM1.46, RM1.60

Exit : RM1.17

Source: AmInvest Research - 12 Apr 2023