We believe the buying interest for AGX Group is back after it pushed out from the bullish pennant pattern and hit a new all-time high yesterday. In view of the uncovered bullish upside gap formed on 17 July coupled with rising EMAs, the upward momentum is likely to pick up further. A bullish bias may emerge above the RM0.425 level with stop-loss set at RM0.39, below the 19 Jul low. Towards the upside, near-term resistance level is seen at RM0.50, followed by RM0.55.

Entry : RM0.425–0.455

Target : RM0.50, RM0.55

Exit : RM0.39

Source: AmInvest Research - 23 Jul 2024