Globetronics Technology may trend higher after it broke above the key RM1.20 resistance and hit its 9-month high yesterday. 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 RM1.20 level, with a stop-loss set at RM1.13, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM1.35, followed by RM1.40. 

Entry : RM1.20–1.25

Target : RM1.35, RM1.40

Exit : RM1.13
 

Source: AmInvest Research - 14 Jun 2023