NationGate Holdings posted 2 white candles in a row and left an upside gap yesterday, likely indicating the return of buying interest. Given that the stock has broken out from a 1-month bullish rectangle pattern, the resumption of its previous uptrend may be taking place now. A bullish bias may emerge above the RM1.60 level with stop-loss set at RM1.48, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM1.80, followed by RM2.00.

Entry : RM1.60–1.65

Target : RM1.80, RM2.00

Exit : RM1.48

Source: AmInvest Research - 24 Apr 2024