Malaysia Smelting Corporation may trend higher after it formed a long white candle and hit its 8-week high two sessions ago. The stock’s move above the RM1.50 resistance coupled with its rising 20-day EMA, indicates that the near term positive momentum may persist. A bullish bias may emerge above the RM1.50 level, with a stop-loss set at RM1.38, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM1.90, followed by RM2.00.

Entry : RM1.50–1.69

Target : RM1.90, RM2.00

Exit : RM1.38

Source: AmInvest Research - 17 Nov 2022