The long white candle and the breakout of the 2-week bullish pennant pattern on Thursday indicate that Kein Hing International’s uptrend may have resumed. With the stock hitting its new multi-year high, supported by its rising EMAs, likely indicates that the bullish momentum may be picking up. A bullish bias may emerge above the RM2.20 level, with a stop-loss set at RM1.98, below the 4 Jan low. Towards the upside, the near-term resistance level is seen at RM2.50, followed by RM2.60.

Entry : RM2.20–2.30

Target : RM2.50, RM2.60

Exit : RM1.90

Source: AmInvest Research - 9 Jan 2023