Infomina broke out from its 3-week rectangle pattern with a long white candle on Friday, implying that a bullish reversal sign may have occurred. As the 20-day and 50-day EMAs are converging now and likely to confirm its positive crossover soon, the current bullish momentum may persist in the near term. A bullish bias may emerge above the RM1.46 level, with stop-loss set at RM1.33, below the 17 May low. Towards the upside, near-term resistance level is seen at RM1.60, followed by RM1.75.
Entry : RM1.46–1.49
Target : RM1.60, RM1.75
Exit : RM1.33
Source: AmInvest Research - 29 May 2023
Created by AmInvest | Sep 22, 2023
Created by AmInvest | Sep 21, 2023
Created by AmInvest | Sep 20, 2023