We expect further upside for QES Group after it posted a long white candle and surged to 11-month high yesterday. The stock’s move above the key RM0.66 resistance (the May high) coupled with its rising EMAs, indicates that the near-term bullish trend may persist. A bullish bias may emerge above the RM0.66 level, with a stop-loss set at RM0.61, below the 8 Dec low. Towards the upside, the near-term resistance level is seen at RM0.75, followed by RM0.80.

Entry : RM0.66–0.68

Target : RM0.75, RM0.80

Exit : RM0.61

Source: AmInvest Research - 13 Dec 2022