PT Resources may trend higher after it broke above the key RM0.66 resistance and hit a new 52-week high a few weeks ago. With the 20-day EMA remaining above the 50-day EMA since a bullish crossover in early May, the uptrend may continue in the near term. A bullish bias may emerge above the RM0.66 level with stop-loss set at RM0.61, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM0.78, followed by RM0.85.

Entry : RM0.66–0.70

Target : RM0.78, RM0.85

Exit : RM0.61

Source: AmInvest Research - 26 Jul 2024