ITMAX System may trend higher after it broke above the RM1.90 resistance and hit a new record high on Wednesday. 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 RM1.90 level, with stop-loss set at RM1.78, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM2.20, followed by RM2.30.

Entry : RM1.90–2.00

Target : RM2.20, RM2.30

Exit : RM1.78

Source: AmInvest Research - 2 Feb 2024