We expect further upside for Inta Bina Group after it gapped up and pushed above the RM0.45 resistance yesterday. Given that the stock has broken out from a 1-month bullish rectangle pattern, the uptrend may continue in the near term. A bullish bias may emerge above the RM0.45 level with stop-loss set at RM0.41, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.50, followed by RM0.55.

Entry : RM0.45–0.465

Target : RM0.50, RM0.55

Exit : RM0.41

Source: AmInvest Research - 6 Jun 2024