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Magni-Tech Industries may rise higher after it formed a long white candle and hit a new 52-week high on Friday. In view of the uncovered upside gap formed on 19 Mar with rising EMAs, the upward momentum is likely to pick up further. A bullish bias may emerge above the RM2.20 level with stop-loss set at RM2.08, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM2.40, followed by RM2.60.
Magni-Tech Industries may rise higher after it formed a long white candle and hit a new 52-week high on Friday. In view of the uncovered upside gap formed on 19 Mar with rising EMAs, the upward momentum is likely to pick up further. A bullish bias may emerge above the RM2.20 level with stop-loss set at RM2.08, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM2.40, followed by RM2.60.
