Globetronics Technology may rise higher after it posted a long white candle and hit a new 52-week high yesterday. Given that the stock has broken out from the 1-week bullish flag pattern as well, the resumption of its previous uptrend may be taking place now. A bullish bias may emerge above the RM1.27 level, with a stop-loss set at RM1.18, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM1.40, followed by RM1.50.

Entry : RM1.27–1.30

Target : RM1.40, RM1.50

Exit : RM1.18

Source: AmInvest Research - 22 Jun 2023