The third white candle and breakout above the 3-week downtrend line seen yesterday indicate that buying interest in Chin Well may have returned. With the bullish hammer pattern coming off the rising 20-day and 50-day EMAs, we expect further upside from here. A bullish bias may emerge above the RM1.60 level, with a stop-loss set at RM1.52, below the 50-day EMA. On the upside, the near-term resistance level is seen at RM1.75, followed by RM1.80.

Entry : RM1.60–1.65

Target : RM1.75, RM1.80

Exit : RM1.52

Source: AmInvest Research - 25 Mar 2022