Kelington Group may rise higher after it formed a long white candle and hit a new multi-year high yesterday. The stock’s move above the RM2.50 resistance coupled with rising EMAs indicate that the near term upward momentum may persist. A bullish bias may emerge above the RM2.50 level with stop-loss set at RM2.33, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM2.80, followed by RM3.00.

Entry : RM2.50–2.55

Target : RM2.80, RM3.00

Exit : RM2.33

Source: AmInvest Research - 1 Mar 2024