We expect further upside for Wah Seong Corporation after it pushed above the RM0.90 psychological mark and hit a new 52- week high yesterday. The stock has marked higher closes since 18 May, and coupled with its rising EMAs, the near term upward momentum may persist. A bullish bias may emerge above the RM0.90 level, with a stop-loss set at RM0.79, below the 50-day  EMA. Towards the upside, the near-term resistance level is seen at RM1.00, followed by RM1.10.

Entry : RM0.90–0.92

Target : RM1.00, RM1.10

Exit : RM0.79

Source: AmInvest Research - 23 May 2023