We believe the buying interest for Teo Seng Capital is back after it surged above the 20-day EMA with a white marubozu candle yesterday. As the 20-day and 50-day EMAs have established their bullish crossover since late-Mar, the current bullish momentum may continue in the near term. A bullish bias may emerge above the RM0.82 level, with a stop-loss set at RM0.79, below the 50- day EMA. Towards the upside, the near-term resistance level is seen at RM0.90, followed by RM0.95.

Entry : RM0.82–0.85

Target : RM0.90, RM0.95

Exit : RM0.79

Source: AmInvest Research - 3 May 2023