Malaysia Smelting Corporation broke out from its 2-week bullish rectangle pattern with a white marubozu candlestick yesterday, implying that a bullish reversal sign may have occurred. With its 20-day EMA starting to turn upwards, additional upside strength may be present in the coming sessions. A bullish bias may emerge above the RM4.77 level, with a stop-loss set at RM4.44, below 30 March’s low. On the upside, the near-term resistance level is seen at RM5.46, followed by RM5.80. 

Entry : RM4.77–5.02

Target : RM5.46, RM5.80

Exit : RM4.44

Source: AmInvest Research - 5 Apr 2022