Innoprise Plantations may trend higher after it surged to a new 52-week high and closed above the RM1.50 resistance on Friday. As the 20-day and 50-day EMAs have established a bullish crossover a few sessions ago, additional upside strength may be present in the near term. A bullish bias may emerge above the RM1.50 level with stop-loss set at RM1.38, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM1.70, followed by RM1.80.

Entry : RM1.50–1.52

Target : RM1.70, RM1.80

Exit : RM1.38

Source: AmInvest Research - 2 Sept 2024