Mah Sing Group may trend higher after it broke above the RM1.30 resistance and hit a new multi-year high yesterday. As the stock also broke out of a 5-week bullish pennant pattern, it may see additional strength in the near term. A bullish bias may emerge above the RM1.30 level with stop-loss set at RM1.18, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM1.50,

Entry : RM1.30–1.34

Target : RM1.50, RM1.60

Exit : RM1.18

Source: AmInvest Research - 16 May 2024