S P Setia may trend higher after surging to a new 52-week high and closed above the RM1.00 psychological mark on Friday. With the 20-day EMA remaining above the 50-day EMA since a bullish crossover in late July, the uptrend may continue in the near term. A bullish bias may emerge above the RM0.98 level, with stop-loss set at RM0.89, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM1.10, followed by RM1.20.

Entry : RM0.98–1.03

Target : RM1.10, RM1.20

Exit : RM0.89

Source: AmInvest Research - 25 Sept 2023