Systech may trend higher after it broke above the RM0.38 resistance and hit a new 52-week high yesterday. Given that the stock has also broken out from a 7-week bullish triangle formation, the resumption of its previous uptrend may be taking place now. A bullish bias may emerge above the RM0.38 level, with stop-loss set at RM0.34, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM0.42, followed by RM0.45.

Entry : RM0.38–0.39

Target : RM0.42, RM0.45

Exit : RM0.34

Source: AmInvest Research - 24 Aug 2023