Perak Transit posted a long white candle after breaking out from its 4-week rectangle pattern. A bullish crossover has emerged from the latest candle close, indicating a potential upward trajectory. The stock is currently trading above and further away from the 20-day EMA, signalling a robust bullish trend in the near term. Resistance levels may be offered at RM1.30, followed by RM1.45. Toward the downside, stop-loss is set at RM1.09, positioned below the second support level.

Entry : RM1.20-1.23

Target : RM1.30, RM1.45

Exit : RM1.09

Source: AmInvest Research - 16 Feb 2024