The second consecutive white candle and the breakout of the bullish pennant pattern yesterday indicate that Kim Loong Resources’ uptrend may have resumed. Together with a new multi-year high, a bullish outlook is anticipated here. A bullish bias may emerge above the RM1.90 level, while setting a stop-loss at RM1.83, below 21 Feb’s low. Towards the upside, we are eyeing the near-term resistance level at RM2.10, followed by RM2.20.

Entry: RM1.90–1.95
Target: RM2.10, 2.20
Exit: RM1.83

Source: AmInvest Research - 25 Feb 2022