We believe buying interest for Leong Hup International is back after it pushed out from the 1.5-month bullish triangle pattern a few sessions ago. With the 20-day EMA remaining above the 50-day EMA since the bullish crossover in late March, the uptrend may continue in the near term. A bullish bias may emerge above the RM0.55 level, with stop-loss set at RM0.49, below the 50- day EMA. Towards the upside, near-term resistance level is seen at RM0.60, followed by RM0.65 .

Entry : RM0.55–0.56

Target : RM0.60, RM0.65

Exit : RM0.49

Source: AmInvest Research - 15 May 2023