HSS Engineers may trend higher after it surged to a new multi-year high and closed above the key RM1.20 resistance on Friday. As the 20-day and 50-day EMAs have established a bullish crossover 2 weeks ago, the stock looks positive in the near term. A bullish bias may emerge above the RM1.20 level with stop-loss set at RM1.08, below the 20-day EMA. Towards the upside, nearterm resistance level is seen at RM1.40, followed by RM1.50.

Entry : RM1.20–1.28

Target : RM1.40, RM1.50

Exit : RM1.08

Source: AmInvest Research - 22 Jul 2024