Infomina broke out from its 3-week rectangle pattern with a long white candle on Friday, implying that a bullish reversal sign may have occurred. As the 20-day and 50-day EMAs are converging now and likely to confirm its positive crossover soon, the current bullish momentum may persist in the near term. A bullish bias may emerge above the RM1.46 level, with stop-loss set at RM1.33,  below the 17 May low. Towards the upside, near-term resistance level is seen at RM1.60, followed by RM1.75.

Entry : RM1.46–1.49

Target : RM1.60, RM1.75

Exit : RM1.33

Source: AmInvest Research - 29 May 2023