Gadang may rise higher after it posted another white candle and hit a new 52-week high on Wednesday. Given that the stock has broken out from an 11-week bullish rectangle pattern, the resumption of its previous uptrend may be taking place now. A bullish bias may emerge above the RM0.42 level with stop-loss set at RM0.39, below the 20-day EMA. Towards the upside, nearterm resistance level is seen at RM0.50, followed by RM0.55.

Entry : RM0.42–0.44

Target : RM0.50, RM0.55

Exit : RM0.39

Source: AmInvest Research - 29 Mar 2024