AWC may trend higher after it surged to a new 52-week high and closed above the RM1.20 resistance 2 weeks ago. In view that the 20-day and 50-day EMAs are starting to turn upwards, additional upside strength may be present in the coming sessions. A bullish bias may emerge above the RM1.20 level with stop-loss set at RM1.08, below the 50-day EMA. Towards the upside, nearterm resistance level is seen at RM1.40, followed by RM1.50.

Entry : RM1.20–1.27

Target : RM1.40, RM1.50

Exit : RM1.08

Source: AmInvest Research - 25 Jul 2024