We expect further upside for Success Transformer Corporation after it pushed above the RM0.96 resistance and hit a new 52- week high on Friday. With the 20-day EMA remaining above 50-day EMA since a bullish crossover in early April, the uptrend may continue in the near term. A bullish bias may emerge above the RM0.96 level with stop-loss set at RM0.89, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM1.10, followed by RM1.20.

Entry : RM0.96–1.01

Target : RM1.10, RM1.20

Exit : RM0.

Source: AmInvest Research - 6 May 2024