Synergy House Bhd

• SYNERGY may trend higher after breaking out from its one-week bullish rectangular pattern two sessions ago, to a new all-time high. As the stock formed a white marubozu candlestick yesterday coupled with the 20-day EMAs pointing upward, the uptrend may continue in the near term.

• We expect the rising momentum to steer the stock higher and test the next level of resistance of RM1.38 (R1), followed by RM1.50 (R2).

• On the downside, stop-loss is set at RM1.10.

• Fundamentally, we like Synergy for its B2C focus, aiming for a 70% revenue share by FY25, which promises higher margins. Additionally, Synergy stands out for prioritizing design and online sales, supported by AI-driven market insights. Their expansion plans, which involve broadening product offerings and venturing into new markets like France, further solidify their position for growth.
  

Source: Rakuten Research - 25 Apr 2024

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