We believe the buying momentum for SDS Group is back after it pushed out from the 3-week bullish pennant pattern with a long positive candle yesterday. As the stock has surged to a new historical high, the near term bullish trend may still have legs. A bullish bias may emerge above the RM1.10 level with stop-loss set at RM0.98, below the 20-day EMA. Towards the upside, nearterm resistance level is seen at RM1.30, followed by RM1.40.

Entry : RM1.10–1.16

Target : RM1.30, RM1.40

Exit : RM0.98

Source: AmInvest Research - 27 Aug 2024