Kelington Group’s buying interest is back after it broke out of the 1-week bullish flag pattern with a white marubozu candlestick yesterday. Coupled with the positive cross of its 20-day EMA above the 50-day EMA a few candles back, this bullish crossover has enhanced the near-term upward momentum. A bullish bias may emerge above the RM1.30 level, with a stop-loss set at RM1.18, below 27 Oct’s low. Towards the upside, the near-term resistance level is seen at RM1.50, followed by RM1.60.

Entry : RM1.30–1.37

Target : RM1.50, RM1.60

Exit : RM1.18

Source: AmInvest Research - 23 Nov 2022