Solarvest Holding may trend upward after breaking out from its 1-month bullish rectangle pattern a few sessions ago. With the stock hitting a new 52-week high yesterday coupled with rising EMAs since the bullish crossover in May, the uptrend may continue in the near term. A bullish bias may emerge above the RM1.32 level, and the bullish momentum should lift it towards subsequent resistance levels of RM1.50, followed by RM1.60. Towards the downside, stop-loss is set at RM1.20 below the 12 July low.

Entry : RM1.32–1.40

Target : RM1.50, RM1.60

Exit : RM1.20

Source: AmInvest Research - 15 Aug 2023