QL Resources’ buying interest is back after it broke out of the 1-month bullish flag pattern with a long positive candle yesterday. The stock pushing near its all-time high, supported by rising EMAs, likely indicates that the upward momentum may be picking up. A bullish bias may emerge above the RM6.60 level with stop-loss set at RM6.28, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM7.00, followed by RM7.50.

Entry : RM6.60–6.69

Target : RM7.00, RM7.50

Exit : RM6.28

Source: AmInvest Research - 15 Aug 2024