Binastra Corporation may rise higher after it formed another positive candle and hit a new 52-week high 2 sessions ago. The stock’s move above the RM1.34 resistance coupled with rising EMAs indicate that the near term upward momentum may persist. A bullish bias may emerge above the RM1.34 level with stop-loss set at RM1.18, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM1.50, followed by RM1.60.

Entry : RM1.34–1.37

Target : RM1.50, RM1.60

Exit : RM1.18

Source: AmInvest Research - 5 Sept 2024