Eonmetall Group may trend higher after it recouped the previous session’s losses and surged to its 52-week high on Friday. Given that the stock has broken out from the 3-week bullish flag formation as well, the resumption of its previous uptrend may be taking place now. A bullish bias may emerge above the RM0.70 level, with a stop-loss set at RM0.63, below 19 Sep’s low. Towards the upside, the near-term resistance level is seen at RM0.76, followed by RM0.80.
Entry : RM0.70–0.72
Target : RM0.76, RM0.80
Exit : RM0.63
Source: AmInvest Research - 26 Sept 2022
