We expect further upside for Pentamaster given that it took out the 5-month downtrend line yesterday. In view that the 20-day and 50-day EMA lines are starting to turn upwards, a positive outlook can be expected here. A bullish bias may emerge above the RM5.00 level, with a stop-loss set at RM4.68, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM5.30, followed by RM5.50.

Entry : RM5.00–5.06

Target : RM5.30, RM5.50

Exit : RM4.68

Source: AmInvest Research - 5 Jul 2023