Deleum’s buying interest is back after it broke out of the 1-week bullish flag pattern with a white candle on Friday. With the stock pushing near its 52-week high and together with its rising EMAs, the upward momentum may be present now. A bullish bias may emerge above the RM0.87 level, with a stop-loss set at RM0.82, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM0.95, followed by RM1.00.
Entry : RM0.87–0.90
Target : RM0.95, RM1.00
Exit : RM0.82
Source: AmInvest Research - 19 Dec 2022
