Southern Cable Group may rise higher after forming a long white candle and hit a new 52-week high yesterday. The stock’s move above the RM0.45 resistance coupled with rising EMAs indicate that the near term upward momentum may persist. A bullish bias may emerge above the RM0.45 level with stop-loss set at RM0.41, below the 20-day EMA. Towards the upside, nearterm resistance level is seen at RM0.50, followed by RM0.55.

Entry : RM0.45–0.465

Target : RM0.50, RM0.55

Exit : RM0.41

Source: AmInvest Research - 15 Feb 2024