Success Transformer Corporation broke out from its 3-month bullish rectangle pattern a few sessions ago, implying that the previous uptrend may have resumed. As the stock has surged to a new multi-year high, the near term bullish trend may still have legs. A bullish bias may emerge above the RM1.05 level with stop-loss set at RM0.99, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM1.20, followed by RM1.30.
Entry : RM1.05–1.10
Target : RM1.20, RM1.30
Exit : RM0.99
Source: AmInvest Research - 12 Jul 2024
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Created by AmInvest | Jul 12, 2024