Malakoff Corporation may continue rising after it broke above the RM0.65 resistance with another white candle on Friday. As the 20-day and 50-day EMAs have confirmed their bullish crossover a week ago, the stock looks positive in the near term. A bullish bias may emerge above the RM0.65 level, with a stop-loss set at RM0.62, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM0.70, followed by RM0.72.

Entry : RM0.65–0.665

Target : RM0.70, RM0.72

Exit : RM0.62

Source: AmInvest Research - 25 Jul 2022