SAM Engineering & Equipment’s buying interest is back after it broke out of the 2-week bullish flag pattern with a long positive candle yesterday. The stock pushing near its multi-year high and supported by rising EMAs likely indicate that the upward momentum may be picking up. A bullish bias may emerge above the RM6.00 level with stop-loss set at RM5.58, below the 20- day EMA. Towards the upside, near-term resistance level is seen at RM7.00, followed by RM7.50.

Entry : RM6.00–6.26

Target : RM7.00, RM7.50

Exit : RM5.58

Source: AmInvest Research - 5 Jun 2024