We expect further upside for Solarvest after it surged above its 20-day and 50-day EMAs with a long white candle yesterday. As its 20-day and 50-day EMAs are converging now and likely to turn up soon, bullish momentum is rising. A bullish bias may emerge above the RM0.90 level, with a stop-loss set at RM0.84, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM1.00, followed by RM1.10.

Entry : RM0.90–0.94

Target : RM1.00, RM1.10

Exit : RM0.84

Source: AmInvest Research - 16 May 2023