Southern Cable Group may rise higher after hitting a new 52-week high with a long white candle yesterday. The stock’s move above the RM0.52 resistance coupled with rising EMAs indicate that the near term upward momentum may persist. A bullish bias may emerge above the RM0.52 level with stop-loss set at RM0.48, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.60, followed by RM0.65.
Entry : RM0.52–0.54
Target : RM0.60, RM0.65
Exit : RM0.48
Source: AmInvest Research - 2 Apr 2024
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Created by AmInvest | Nov 18, 2024
Created by AmInvest | Nov 15, 2024