Parkson may trend higher after it surged to a new 52-week high and closed above the RM0.20 resistance a few sessions ago. In view of the uncovered upside gap formed on 5 Jul and together with rising EMAs, bullish momentum is likely to pick up further. A bullish bias may emerge above the RM0.215 level, with stop-loss set at RM0.19, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.24, followed by RM0.26.

Entry : RM0.215–0.225

Target : RM0.24, RM0.26

Exit : RM0.19

Source: AmInvest Research - 13 Jul 2023