We expect further upside for Globetronics Technology after it gapped up and pushed above the RM1.60 resistance 2 sessions ago. With the stock posting a long white candle and closing near its 52-week high, upward momentum may be present now. A bullish bias may emerge above the RM1.60 level, with stop-loss set at RM1.48, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM1.80, followed by RM1.90.

Entry : RM1.60–1.65

Target : RM1.80, RM1.90

Exit : RM1.48

Source: AmInvest Research - 22 Nov 2023