PT Resources may trend higher after it closed above the RM0.60 resistance with a long positive candle yesterday. With the 20- day EMA remaining above 50-day EMA since a bullish crossover in early May, we believe the uptrend may persist in the near term. A bullish bias may emerge above the RM0.60 level with stop-loss set at RM0.55, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.70, followed by RM0.75.

Entry : RM0.60–0.62

Target : RM0.70, RM0.75

Exit : RM0.55

Source: AmInvest Research - 26 Jun 2024