MAG Holdings pushed out from its bullish pennant pattern with a white candle yesterday, implying that its previous uptrend may have resumed. In view that the 20-day and 50-day EMAs are starting to turn upwards, a positive outlook can be expected here. A bullish bias may emerge above the RM0.21 level, with a stop-loss set at RM0.19, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM0.24, followed by RM0.25.

Entry : RM0.21–0.22

Target : RM0.24, RM0.25

Exit : RM0.19

Source: AmInvest Research - 9 Jun 2023