P.I.E. Industrial may trend higher after posting a long white candle and hit its 6-month high yesterday. The stock’s move above the RM3.20 resistance coupled with rising EMAs, indicates that the near term bullish trend may persist. A bullish bias may emerge above the RM3.20 level, with stop-loss set at RM2.98, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM3.60, followed by RM3.80.

Entry : RM3.20–3.34

Target : RM3.60, RM3.80

Exit : RM2.98

Source: AmInvest Research - 21 Nov 2023