Dancomech Holdings posted 2 white candles in a row and its 20-day EMA has started to turn up on Friday, likely indicating the return of buying interest. The stock’s move above the RM0.43 resistance suggests that a positive outlook can be expected here. A bullish bias may emerge above the RM0.43 level, with a stop-loss set at RM0.39, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM0.48, followed by RM0.50.

Entry : RM0.43–0.44

Target : RM0.48, RM0.50

Exit : RM0.39

Source: AmInvest Research - 14 Nov 2023