Kawan Food broke out from its 2-week bullish pennant pattern two sessions ago, implying that its previous uptrend may have resumed. With the stock pushing near its 52-week high, which coincides with its rising EMAs, the upward momentum may be present now. A bullish bias may emerge above the RM1.90 level, with a stop-loss set at RM1.82, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM2.00, followed by RM2.10.

Entry : RM1.90–1.94

Target : RM2.00, RM2.10

Exit : RM1.82

Source: AmInvest Research - 3 Aug 2022