Bermaz Auto posted 2 long white candles in a row and hit its new multi-year high on Thursday, which likely indicates the return of buying momentum. The stock’s move above the RM2.30 resistance coupled with rising EMAs, indicates that the near term bullish trend may persist. A bullish bias may emerge above the RM2.30 level, with stop-loss set at RM2.18, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM2.60, followed by RM2.80.

Entry : RM2.30–2.40

Target : RM2.60, RM2.80

Exit : RM2.18

Source: AmInvest Research - 18 Sept 2023