We expect further upside for Superlon given that it took out the 2-month downtrend line 2 sessions ago. In view that the 20-day and 50-day EMAs are starting to turn upwards, a positive outlook can be expected here. A bullish bias may emerge above the RM0.80 level with stop-loss set at RM0.74, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM0.95, followed by RM1.00.

Entry : RM0.80–0.855

Target : RM0.95, RM1.00

Exit : RM0.74

Source: AmInvest Research - 11 Mar 2024