Ramssol Group may rise higher after it gapped up and hit a new 52-week high yesterday. Given that the stock has broken out from the 2-week bullish rectangle pattern and is supported by its rising EMAs, the near term bullish trend may still have legs. A bullish bias may emerge above the RM0.49 level, with stop-loss set at RM0.44, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.55, followed by RM0.60.

Entry : RM0.49–0.515

Target : RM0.55, RM0.60

Exit : RM0.44

Source: AmInvest Research - 3 Oct 2023