MSM Malaysia shows positive momentum as indicated by a long white candle following the breakout of a flag pattern. Currently, the stock is trading above the 20-day EMA, reinforcing its upward trajectory. The expanding gap between EMA lines further signals a robust bullish trend in the near term. Resistance levels may be offered at RM2.00, followed by RM2.10. Toward the downside, stop-loss is set at RM1.58, positioned below the 50-day EMA.
Entry : RM1.70-1.83
Target : RM2.00, RM2.10
Exit : RM1.58
Source: AmInvest Research - 18 Jan 2024
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Created by AmInvest | Nov 01, 2024