Karex’s buying interest is back after it broke out of the 1-week bullish pennant pattern with a long white candle yesterday. In view that the 20-day and 50-day EMAs are starting to turn upwards, additional strength may be present in the coming sessions. A bullish bias may emerge above the RM0.70 level, with stop-loss set at RM0.64, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.80, followed by RM0.85.

Entry : RM0.70–0.72

Target : RM0.80, RM0.85

Exit : RM0.64

Source: AmInvest Research - 28 Nov 2023