HSS Engineers posted 2 white candles in a row and its 20-day EMA has started to turn up yesterday, likely indicating the return of buying interest. With the stock cracking above the RM1.08 resistance and at its 52-week high, the upward momentum is likely to pick up further. A bullish bias may emerge above the RM1.08 level, with a stop-loss set at RM0.97, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM1.20, followed by RM1.30.

Entry : RM1.08–1.12

Target : RM1.20, RM1.30

Exit : RM0.97

Source: AmInvest Research - 16 Jan 2024