We expect further upside for SFP Tech given that it took out the 4-month downtrend line a few sessions ago. With the stock pushing near its all-time high, supported by rising EMAs, likely indicates that the bullish momentum may be picking up. A bullish bias may emerge above the RM2.75 level, with stop-loss set at RM2.58, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM3.00, followed by RM3.20.

Entry : RM2.75–2.82

Target : RM3.00, RM3.20

Exit : RM2.58

Source: AmInvest Research - 20 Jun 2023