Mercury Securities Group broke out from a 2-week bullish pennant pattern 2 sessions ago, implying that its previous uptrend may have resumed. With the stock posting a long white candle and pushing near its all-time high, buying momentum may be present now. A bullish bias may emerge above the RM0.30 level, with stop-loss set at RM0.28, below the 25 Sep low. Towards the upside, near-term resistance level is seen at RM0.35, followed by RM0.37.

Entry : RM0.30–0.31

Target : RM0.35, RM0.37

Exit : RM0.28

Source: AmInvest Research - 4 Oct 2023