SDS Group (SDS Group | 0212)

Last Price: RM1.23 | Technical Call: BUY

SDS Group broke out from its 1-month triangle pattern with a long positive candle yesterday, implying that a bullish reversal sign may have occurred. As the 20-day and 50-day EMAs are converging now and likely to confirm their bullish crossover soon, the current bullish momentum may persist in the near term. A bullish bias may emerge above the RM1.20 level with stop-loss set at RM1.10, below the 15 Jan low. Towards the upside, near-term resistance level is seen at RM1.30, followed by RM1.40.

Entry: RM1.20-1.23

Target: RM1.30, RM1.40

Exit: RM1.10

Source: AmInvest Research - 6 Feb 2025