We expect further upside for Mi Technovation after it broke out from the 2-week bullish flag pattern yesterday. As the 20-day and 50-day EMAs have established their bullish crossover since late Nov22, the current bullish momentum may continue in the near term. A bullish bias may emerge above the RM1.54 level, with a stop-loss set at RM1.42, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM1.75, followed by RM1.85.

Entry : RM1.54–1.60

Target : RM1.75, RM1.85

Exit : RM1.42

Source: AmInvest Research - 17 Feb 2023