Genetec Technology may trend higher after it closed above the RM2.80 resistance with a white candle yesterday. In view that the 20-day and 50-day EMAs are starting to turn upwards, a positive outlook can be expected here. A bullish bias may emerge above the RM2.80 level, with a stop-loss set at RM2.58, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM3.20, followed by RM3.40.
Entry : RM2.80–2.90
Target : RM3.20, RM3.40
Exit : RM2.58
Source: AmInvest Research - 8 Feb 2023
