NationGate’s buying momentum is back after it broke out of the 2-week bullish flag pattern with a long positive candle yesterday. The stock’s move above the RM1.80 resistance coupled with its rising EMAs, indicates that the near term bullish trend may persist. A bullish bias may emerge above the RM1.80 level, with a stop-loss set at RM1.70, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM2.10, followed by RM2.20.

Entry : RM1.80–1.93

Target : RM2.10, RM2.20

Exit : RM1.70

Source: AmInvest Research - 7 Jun 2024