We believe the buying momentum for Aurelius Technologies may have returned following a breached above the 5-month downtrend line yesterday. As the 20-day and 50-day EMAs are converging now and likely to confirm its positive crossover soon, the upward momentum may persist in the near term. A bullish bias may emerge above the RM2.50 level, with a stop-loss set at RM2.33, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM2.80, followed by RM3.00.

Entry : RM2.50–2.60

Target : RM2.80, RM3.00

Exit : RM2.33

Source: AmInvest Research - 21 Jul 2023