Kelington Group may trend higher after it broke above the RM2.80 resistance and hit a new 52-week high a few sessions ago. With the 20-day EMA remaining above the 50-day EMA since a bullish crossover in late November 2023, we believe the uptrend may persist in the near term. A bullish bias may emerge above the RM2.80 level with stop-loss set at RM2.58, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM3.20, followed by RM3.50.

Entry : RM2.80–2.91

Target : RM3.20, RM3.50

Exit : RM2.58

Source: AmInvest Research - 10 May 2024