We think the buying interest for Gas Malaysia may have returned after it breached above the 7-month downtrend line with a long white candle yesterday. As the 20-day and 50-day EMAs have confirmed their bullish crossover a few sessions ago, the uptrend may continue in the near term. A bullish bias may emerge above the RM3.30 level, with a stop-loss set at RM3.18, below the 50- day EMA. Towards the upside, the near-term resistance level is seen at RM3.60, followed by RM3.80.

Entry : RM3.30–3.39

Target : RM3.60, RM3.80

Exit : RM3.18

Source: AmInvest Research - 26 Apr 2023