We expect further upside for Mikro MSC after recouping losses in the previous day and pushed higher from its RM0.255 low. With the stock posting a long white candle and closing near its 52-week high yesterday, bullish momentum may be present now. A bullish bias may emerge above the RM0.255 level, with stop-loss set at RM0.23, below the 20-day EMA. Towards the upside, near-term resistance level is seen at RM0.30, followed by RM0.33.

Entry : RM0.255–0.28

Target : RM0.30, RM0.33

Exit : RM0.23

Source: AmInvest Research - 6 Oct 2023