Cnergenz broke out from its 6-week bullish ascending triangle pattern on Tuesday implying that its previous uptrend may have resumed. The stock hit a new all-time high coupled with all of its rising EMAs, additional upside strength may be present in the near term. A bullish bias may emerge above the RM1.05 level, with a stop-loss set at RM0.94, below 26 Sep’s low. Towards the upside, the near-term resistance level is seen at RM1.20, followed by RM1.30.
Entry : RM1.05–1.08
Target : RM1.20, RM1.30
Exit : RM0.94
Source: AmInvest Research - 29 Sept 2022
