Muhibbah Engineering broke out from its 6-week bullish flag pattern yesterday, implying that its previous uptrend may have resumed. With the stock posting a long white candle and pushing near its 52-week high, the upward momentum may be present now. A bullish bias may emerge above the RM0.70 level, with a stop-loss set at RM0.66, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM0.78, followed by RM0.85.

Entry : RM0.70–0.735

Target : RM0.78, RM0.85

Exit : RM0.66

Source: AmInvest Research - 10 Mar 2023