PWF Corporation may rise higher after it formed a long white candle and hit a new 52-week high a few sessions ago. With the 20-day EMA remaining above the 50-day EMA since the bullish crossover in early Dec22, the uptrend may continue in the near term. A bullish bias may emerge above the RM0.70 level, with a stop-loss set at RM0.65, below the 2 May low. Towards the upside, the near-term resistance level is seen at RM0.80, followed by RM0.85.

Entry : RM0.70–0.725

Target : RM0.80, RM0.85

Exit : RM0.65

Source: AmInvest Research - 10 May 2023