FoundPac Group may trend higher after it surged to an 8-month high and closed above the RM0.455 resistance yesterday. As the 20-day and 50-day EMAs have confirmed their bullish crossover a few candles back, the stock looks positive in the near term. A bullish bias may emerge above the RM0.455 level, with stop-loss set at RM0.41, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.50, followed by RM0.54.

Entry : RM0.455–0.465

Target : RM0.50, RM0.54

Exit : RM0.41

Source: AmInvest Research - 27 Oct 2023