Three-A Resources may rise higher after it hit a new 52-week high with a long white candle two sessions ago. As the stock also broke out of the 4-month bullish rectangle pattern, it may see additional strength in the near term. An upbeat bias may emerge above the RM1.13 level, with a stop-loss set at RM1.05, below the 21-day EMA. On the upside, the near-term resistance level is seen at RM1.30, followed by RM1.40.

Entry: RM1.13–1.18

Target: RM1.30, 1.40

Exit: RM1.05
 

Source: AmInvest Research - 17 Feb 2022