OI Properties Group surged to its new multi-year high with a long white candle yesterday, which likely indicates the return of buying momentum. The stock also broke out from a 1-month bullish rectangle pattern, which coincided with rising EMAs, likely indicating that the near-term uptrend may persist. A bullish bias may emerge above the RM2.23 level with stop-loss set at RM2.08, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM2.50, followed by RM2.60.

Entry : RM2.23–2.29

Target : RM2.50, RM2.60

Exit : RM2.08

Source: AmInvest Research - 20 Feb 2024