Aemulus Holdings Bhd

• AEMULUS may trend higher after breaking out from its one-month bullish rectangular pattern as the increased trading volume also sent share price to close above the 20-day EMA yesterday. Given the supportive technical reading in RSI and EMAs, the uptrend may continue in the near term.

• We expect the rising momentum to steer the stock higher and test the next resistance of RM0.39 (R1), followed by RM0.42 (R2).

• On the downside, stop-loss is set at RM0.315, below the 24 Apr’s low.
  
  

Source: Rakuten Research - 15 May 2024

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