We expect further upside for Fajarbaru Builder Group after it recouped the previous session’s losses and pushed higher from its RM0.50 support. The stock pushing near its all-time high, supported by rising EMAs, likely indicate that the upward momentum may be picking up. A bullish bias may emerge above the RM0.50 level with stop-loss set at RM0.47, below the 10 Jul low. Towards the upside, near-term resistance level is seen at RM0.60, followed by RM0.65.

Entry : RM0.50–0.54

Target : RM0.60, RM0.65

Exit : RM0.47

Source: AmInvest Research - 18 Jul 2024