Cape EMS broke out from its 2-week bullish ascending triangle pattern with a white candle yesterday, implying that a bullish reversal sign may have occurred. The stock’s move above the RM1.30 psychological mark indicates that the near term upward momentum may persist. A bullish bias may emerge above the RM1.29 level, with a stop-loss set at RM1.18, below the 6 Apr low. Towards the upside, the near-term resistance level is seen at RM1.43, followed by RM1.50.

Entry : RM1.29–1.31

Target : RM1.43, RM1.50

Exit : RM1.18

Source: AmInvest Research - 13 Apr 2023