BP Plastics may trend higher after it surged to a new 52-week high and closed above the RM1.30 resistance yesterday. 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 RM1.30 level with stop-loss set at RM1.22, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM1.42, followed by RM1.53.

Entry : RM1.30–1.33

Target : RM1.42, RM1.53

Exit : RM1.22

Source: AmInvest Research - 14 Mar 2024