Shin Yang Shipping Corporation broke out from its 5-week bullish flag pattern with a white candle yesterday, implying that its previous uptrend may have resumed. In view that the 20-day and 50-day EMAs are starting to turn upwards, a positive outlook can be expected here. A bullish bias may emerge above the RM0.72 level, with a stop-loss set at RM0.65, below 5 Oct’s low. Towards the upside, the near-term resistance level is seen at RM0.82, followed by RM0.87.

Entry : RM0.72–0.77

Target : RM0.82, RM0.87

Exit : RM0.65

Source: AmInvest Research - 13 Oct 2022