Alpha IVF Group Bhd (ALPHA, 0303)

• Alpha IVF is poised to trend higher after it broke above the key resistance of RM0.335 and hit its all-time high with consecutive white candles a few sessions ago. In view of the stock gapping up from the 20-day EMA supported by a recent bullish crossover, the positive momentum appears to be picking up in the near term.

• We anticipate the rising momentum to steer the stock higher, targeting the next resistance ofRM0.37 (R1) followed by RM0.39 (R2) in the near term.

• On the downside, stop-loss is set at RM0.32.
  

Source: Rakuten Research - 12 Sep 2024

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