We expect further upside in Apex Healthcare after it broke out from the 3-month downward channel with a white candle on Friday. Coupled with the positive cross of its 20-day EMA above the 50-day EMA a few candles back, this bullish crossover has enhanced the near-term upward momentum. A bullish bias may emerge above the RM2.90 level, with a stop-loss set at RM2.75, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM3.10, followed by RM3.20.
Entry : RM2.90–2.95
Target : RM3.10, RM3.20
Exit : RM2.75
Source: AmInvest Research - 12 Jul 2022
