Mah Sing Group’s buying interest is back after it broke out of the 3-week bullish rectangle pattern with another white candle yesterday. With the 20-day EMA remaining above the 50-day EMA since the bullish crossover in early-July, the uptrend may continue in the near term. A bullish bias may emerge above the RM0.66 level, with a stop-loss set at RM0.63, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM0.75, followed by RM0.80.

Entry : RM0.66–0.685

Target : RM0.75, RM0.80

Exit : RM0.63

Source: AmInvest Research - 10 Aug 2023