Cape EMS surged to a new all-time high with a long white candle yesterday, which likely indicates the return of buying momentum. The stock’s move above the RM1.43 resistance coupled with its rising 20-day EMA, indicating that the near term bullish trend may persist. A bullish bias may emerge above the RM1.43 level, with a stop-loss set at RM1.30, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM1.60, followed by RM1.70.

Entry : RM1.43–1.51

Target : RM1.60, RM1.70

Exit : RM1.30

Source: AmInvest Research - 20 Apr 2023