We expect further upside for Synergy House given that it took out the 3-month downtrend line a week ago. Coupled with the positive cross of its 20-day EMA above the 50-day EMA line a few candles back, this bullish crossover has enhanced near term buying momentum. A bullish bias may emerge above the RM0.415 level, with stop-loss set at RM0.39, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.48, followed by RM0.50.

Entry : RM0.415–0.44

Target : RM0.48, RM0.50

Exit : RM0.39

Source: AmInvest Research - 5 Oct 2023