Seng Fong posted 2 long positive candles in a row and hit a new high a week ago, likely indicates the return of buying interest. The stock’s move above the RM0.93 resistance coupled with its rising EMAs, indicates that the near term upward momentum may persist. A bullish bias may emerge above the RM0.93 level, with a stop-loss set at RM0.85, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM1.00, followed by RM1.10.

Entry : RM0.93–0.955

Target : RM1.00, RM1.10

Exit : RM0.85

Source: AmInvest Research - 21 Jun 2024