We believe the buying interest for Homeritz Corporation is back after it pushed out from the 7-week bullish triangle pattern a few sessions ago. In view that the 20-day and 50-day EMAs are starting to turn upwards, additional upside strength may be present in the near term. A bullish bias may emerge above the RM0.51 level, with stop-loss set at RM0.48, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM0.56, followed by RM0.60.

Entry : RM0.51–0.52

Target : RM0.56, RM0.60

Exit : RM0.48

Source: AmInvest Research - 25 Oct 2023