We think the buying momentum for RGB International is back following yesterday’s breach of its 2-month descending triangle pattern. With the stock pushing near its 52-week high with a long white candle, likely indicates that the upward momentum may be picking up. A bullish bias may emerge above the RM0.23 level, with a stop-loss set at RM0.20, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM0.27, followed by RM0.30.

Entry : RM0.23–0.245

Target : RM0.27, RM0.30

Exit : RM0.20

Source: AmInvest Research - 7 Jun 2023