Hiap Teck Venture may trend higher after breaking above the RM0.365 resistance with a long white candle yesterday. As the 20-day and 50-day EMAs have established a bullish crossover since late-July, the current bullish momentum may persist in the near term. A bullish bias may emerge above the RM0.365 level, with stop-loss set at RM0.34, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.47, followed by RM0.50.

Entry : RM0.365–0.395

Target : RM0.47, RM0.50

Exit : RM0.34

Source: AmInvest Research - 11 Aug 2023