Kim Teck Cheong Consolidated’s buying momentum is back after it broke out of the 2-week bullish flag pattern with a long white candle on Friday. As the 20-day and 50-day EMAs have confirmed their bullish crossover since mid-January, the stock looks positive in the near term. A bullish bias may emerge above the RM0.245 level, with a stop-loss set at RM0.22, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM0.28, followed by RM0.30.

Entry : RM0.245–0.26

Target : RM0.28, RM0.30

Exit : RM0.22

Source: AmInvest Research - 6 Mar 2023