Parkson Holdings may trend higher after it formed a long white candle and closed above the RM0.17 resistance on Friday. Coupled with the positive cross of its 20-day EMA above the 50-day EMA a few candles back, this crossover has enhanced the near-term bullish momentum. A bullish bias may emerge above the RM0.17 level, with a stop-loss set at RM0.14, below the 50- day EMA. Towards the upside, the near-term resistance level is seen at RM0.20, followed by RM0.22.

Entry : RM0.17–0.18

Target : RM0.20, RM0.22

Exit : RM0.14

Source: AmInvest Research - 12 Jun 2023