KSL broke out from its 2-month ascending triangle pattern with a long white candle two sessions ago, implying that a bullish reversal sign may have occurred. Coupled with the positive cross of its 20-day EMA above the 50-day EMA a few candles back, the current bullish momentum may continue in the near term. A bullish bias may emerge above the RM0.78 level, with a stoploss set at RM0.72, below 6 July’s low. Towards the upside, the near-term resistance level is seen at RM0.85, followed by RM0.88.

Entry : RM0.78–0.79

Target : RM0.85, RM0.88

Exit : RM0.72

Source: AmInvest Research - 19 Jul 2022