MISC broke out from its 2-month bullish rectangle pattern yesterday implying that its previous uptrend may have resumed. As the 21-day and 50-day EMAs have established their bullish crossover since late Dec 2021, the stock looks positive in the near term. A bullish bias may emerge above the RM7.10 level, while setting a stop-loss at RM6.98. Towards the upside, we are eyeing the nearterm resistance level at RM7.60, followed by RM7.90.

Entry: RM7.10–7.19

Target: RM7.60, 7.90

Exit: RM6.98

Source: AmInvest Research - 23 Feb 2022