Homeritz Corporation posted 3 white candles in a row and its 20-day EMA has started to turn up yesterday, likely indicating the return of buying interest. The stock’s move above the RM0.55 resistance also coincides with a new 52-week high, indicating that a bullish outlook can be anticipated here. A bullish bias may emerge above the RM0.55 level with stop-loss set at RM0.52, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM0.62, followed by RM0.70.

Entry : RM0.55–0.57

Target : RM0.62, RM0.70

Exit : RM0.52

Source: AmInvest Research - 9 Apr 2024