Betamek may rise higher after it gapped up and hit a new 52-week high yesterday. In view that the 20-day and 50-day EMAs are starting to turn upwards, additional upside strength may be present in the near term. A bullish bias may emerge above the RM0.47 level with stop-loss set at RM0.42, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.53, followed by RM0.55.
Entry : RM0.47–0.48
Target : RM0.53, RM0.55
Exit : RM0.42
Source: AmInvest Research - 23 Aug 2024
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