BM Greentech broke out from a 2-week bullish flag pattern on Tuesday, implying that its previous uptrend may have resumed. With the 20-day EMA remaining above the 50-day EMA since a bullish crossover in late April, the uptrend may continue in the near term. A bullish bias may emerge above the RM1.25 level with stop-loss set at RM1.15, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM1.40, followed by RM1.50.

Entry : RM1.25–1.29

Target : RM1.40, RM1.50

Exit : RM1.15

Source: AmInvest Research - 23 May 2024