Deleum broke out from a 1-week bullish pennant pattern a week ago, implying that its previous uptrend may have resumed. The stock also posted a long white candle and hit its new 52-week high, likely suggesting bullish momentum is increasing. A bullish bias may emerge above the RM1.08 level, with stop-loss set at RM0.99, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM1.20, followed by RM1.30.
Entry : RM1.08–1.11
Target : RM1.20, RM1.30
Exit : RM0.99
Source: AmInvest Research - 2 Oct 2023
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Created by AmInvest | Nov 01, 2024