We think the buying interest for Chin Hin Group is back following yesterday’s breach of its downtrend line derived from May high. In conjunction with the long white candle and the bullish hammer pattern formed on 22 Jun, the uptrend may persist in the near term. A bullish bias may emerge above the RM3.30 level, with a stop-loss set at RM3.09, below the hammer pattern support. Towards the upside, the near-term resistance level is seen at RM3.70, followed by RM4.00.

Entry : RM3.30–3.41

Target : RM3.70, RM4.00

Exit : RM3.09

Source: AmInvest Research - 24 Jun 2022