Mycron Steel broke out from its 1-month bullish triangle pattern two candles back, implying that its previous uptrend may have resumed. With the stock posting another white candle and pushing near its 52-week high, the bullish momentum may be present now. A bullish bias may emerge above the RM0.725 level, with a stop-loss set at RM0.68, below 13 May’s low. Towards the upside, the near-term resistance level is seen at RM0.85, followed by RM0.90.

Entry : RM0.725–0.77

Target : RM0.85, RM0.90

Exit : RM0.68

Source: AmInvest Research - 18 May 2022