MBM Resources may rise higher after it formed a long white candle and hit a new 52-week high on Thursday. As the stock also
broke out of the 3-week bullish rectangle pattern, it may see additional strength in the near term. A bullish bias may emerge
above the RM3.60 level, with a stop-loss set at RM3.42, below the 50-day EMA. Towards the upside, the near-term resistance
level is seen at RM3.85, followed by RM4.00.

Entry : RM3.60–3.70

Target : RM3.85, RM4.00

Exit : RM3.42

Source: AmInvest Research - 20 Feb 2023