Binasat Communications may trend higher after it surged to a new 52-week high and closed above the RM0.385 resistance yesterday. As the 20-day and 50-day EMAs have established a bullish crossover since late-July, the current bullish momentum may continue in the near term. A bullish bias may emerge above the RM0.385 level, with stop-loss set at RM0.34, below the 20- day EMA. Towards the upside, near-term resistance level is seen at RM0.45, followed by RM0.47.

Entry : RM0.385–0.40

Target : RM0.45, RM0.47

Exit : RM0.34

Source: AmInvest Research - 13 Sept 2023