We believe buying interest for Superlon is back after it pushed out from the 3-week bullish flag pattern a few sessions ago. In view that the 20-day and 50-day EMAs are starting to turn upward again, additional upside strength may be present in the near term. A bullish bias may emerge above the RM1.09 level with stop-loss set at RM0.99, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM1.20, followed by RM1.30.

Entry : RM1.09–1.10

Target : RM1.20, RM1.30

Exit : RM0.99

Source: AmInvest Research - 26 Apr 2024