Cnergenz may trend higher after it broke above the RM0.95 resistance with a long white candle yesterday. As the 20-day and 50-day EMAs have established their bullish crossover since mid-April, the current bullish momentum may continue in the near term. A bullish bias may emerge above the RM0.95 level, with a stop-loss set at RM0.89, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM1.02, followed by RM1.10.

Entry : RM0.95–0.97

Target : RM1.02, RM1.10

Exit : RM0.89

Source: AmInvest Research - 28 Apr 2023