We believe the buying momentum on Swift Haulage is back following its breakout above the RM0.50 resistance with a long white candle yesterday. In view that the 20-day and 50-day EMAs are starting to turn upwards, a positive outlook can be expected here. A bullish bias may emerge above the RM0.50 level, with a stop-loss set at RM0.47, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM0.55, followed by RM0.60.

Entry : RM0.50–0.52

Target : RM0.55, RM0.60

Exit : RM0.47

Source: AmInvest Research - 22 Sept 2023