Cloudpoint Technology may rise higher after it formed a second consecutive white candle and left an upside gap yesterday. The stock’s move above the RM0.60 resistance coupled with rising EMAs indicates that the near term bullish trend may persist. A bullish bias may emerge above the RM0.63 level with stop-loss set at RM0.59, below the upside gap support. Towards the upside, near-term resistance level is seen at RM0.70, followed by RM0.75.

Entry : RM0.63–0.65

Target : RM0.70, RM0.75

Exit : RM0.59

Source: AmInvest Research - 12 Mar 2024