MKH may trend higher after it surged to a new multi-year high and closed above the RM1.45 resistance yesterday. Given that the stock has broken out from the 3-month bullish triangle formation as well, the resumption of its previous uptrend may be taking place now. A bullish bias may emerge above the RM1.45 level, with a stop-loss set at RM1.37, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM1.60, followed by RM1.70.

Entry : RM1.45–1.47

Target : RM1.60, RM1.70

Exit : RM1.37

Source: AmInvest Research - 20 Dec 2023