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Aminvest Research expects further upside for Alpha IVF Group after it hit a new all-time high with another positive candle yesterday. The stock’s move above the RM0.33 resistance coupled with rising EMAs indicate that the near term upward momentum may persist. A bullish bias may emerge above the RM0.33 level with stop-loss set at RM0.31, below the 50-day EMA. Towards the upside, nearterm resistance level is seen at RM0.38, followed by RM0.40.
Alpha IVF is poised to trend higher after it broke above the key resistance of RM0.335 and hit its all-time high with consecutive white candles a few sessions ago. In view of the stock gapping up from the 20-day EMA supported by a recent bullish crossover, the positive momentum appears to be picking up in the near term.
We anticipate the rising momentum to steer the stock higher, targeting the next resistance ofRM0.37 (R1) followed by RM0.39 (R2) in the near term.
