Kobay Technology’s buying interest is back after it broke out of the 8-week bullish triangle pattern with a long positive candle on Friday. With the 20-day EMA remaining above the 50-day EMA since a bullish crossover in late March, the upward momentum may continue in the near term. A bullish bias may emerge above the RM2.20 level with stop-loss set at RM2.05, below the 50- day EMA. Towards the upside, near-term resistance level is seen at RM2.60, followed by RM2.80.

Entry : RM2.20–2.35

Target : RM2.60, RM2.80

Exit : RM2.05

Source: AmInvest Research - 9 Jul 2024