Aemulus Holdings Bhd (AEMULUS, 0181)

• Share price closed 3.39% higher at RM0.305 last Friday.

• AEMULUS entered into a consolidation phase after displaying a double top chart pattern, closing ata pivotal 20-day EMA of RM0.305. It has successfully broken out from a 13-day downtrend line in the past few trading sessions, suggesting the potential beginning of a new uptrend. The RSI has also reversed, moving upward from an oversold territory, indicating the resurgence in buying interests.

• Potential upside towards the RM0.325 to RM0.345 range upon a successful breakout above theimmediate resistance at EMA 50 line (RM0.315).

• On the downside, stop-loss is set at RM0.29, below 31 Oct’s low.

Source: Rakuten Research - 6 Nov 2023

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