Mikro MSC broke out from its 1-week bullish flag pattern yesterday, implying that its previous uptrend may have resumed. The stock also posted a long white candle and hit a new 52-week high, likely suggesting that bullish momentum is picking up further. A bullish bias may emerge above the RM0.235 level, with a stop-loss set at RM0.20, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM0.26, followed by RM0.28.

Entry : RM0.235–0.24

Target : RM0.26, RM0.28

Exit : RM0.20

Source: AmInvest Research - 28 Jul 2023