Aurelius Technologies Berhad (ATECH, 5302)

• ATECH broke out above its previous resistance at RM3.10 with a strong white candlestick yesterday,signalling a potential resurgence of buying interest. A bullish convergence between the 20-day and 50-day EMAs, coupled with rising RSI, further reaffirms the continuation of the upward momentum.

• We expect the rising momentum to steer the stock higher and test the next resistance at RM3.50(R1) followed by RM3.90 (R2) in the near term.

• On the downside, stop-loss is set at RM2.90.

Source: Rakuten Research - 12 Dec 2024

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