Nationgate Holdings Bhd (NATGATE, 0270)

• NATGATE may extend it upward trajectory after it broke out from the three-week rectangularpattern yesterday. In view of the stock pulling further away from all the EMAs, couple with supportive technical reading in RSI along with a gradual rise in trading volume, it is likely that the bullish momentum is picking up further.

• We expect the rising momentum is set to steer the stock higher and test the next level of resistanceof RM1.56 (R1) followed by RM1.67 (R2) in the near term.

• On the downside, stop-loss is set at RM1.26, below the 28 Nov’s low.

Source: Rakuten Research - 12 Dec 2023

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